Abu Dhabi Global Market (ADGM)-based innovative asset management firm FinaMaze, has launched its latest Islamic Smartfolio Series.
FinaMaze clients can invest from as low as $2,000 in a new product that reflects the Shariah investment principles. The first Smartfolio of the Islamic Series is the FinaMaze General Islamic Smartfolio.
It has exposure to Stocks from 23 developed markets and all are part of the FTSE Shariah USA Index and the MSCI World Islamic Index universe. The product excludes companies with excessive leverage or whose activities are not compatible with Islamic principles.
“As the Holy month of Ramadan comes to an end in a few days, and with the Eid al-Fitr celebrations just on the horizon, FinaMaze is happy to launch its latest Islamic Smartfolio Series which respects Shariah investment principles. With this new product, we will meet the requirements of an important segment of our clients, as well as offer Islamic investors the opportunity to access personalized portfolios.”
Companies whose total debt weighs more than a third of their assets are indeed excluded as well as those whose accounts receivable and cash represent more than half of their assets.
The Smartfolio also excludes companies whose total interest income and non-compliant activities such as alcohol, tobacco, non-halal-related products, conventional financial services, defense or weapons, gambling, or adult entertainment, income exceed 5 percent of the total revenue.
Among the selected companies, some operate in the Healthcare sector with names like Johnson & Johnson, Pfizer, Roche (Switzerland), while others are in Consumer staples (Procter & Gamble), Energy (Exxon, Chevron, Shell (GB)), Technology (Apple, Cisco, Adobe) or Auto (Tesla).
In line with its plans to expand to Saudi Arabia through the elite Fintech Saudi Regulatory Program, FinaMaze will continue to use innovative solutions to provide powerful, cost-effective and highly-customized Smartfolios to the benefit of investors in the region.