Prudential introduces first Shariah-aligned index fund

Shariah investing aligns with the permissible financial activities for Muslims and promotes ethical support for the community.

Prudential Singapore has introduced its first PRULink Islamic Global Equity Index Fund, catering to the investment requirements of Muslim customers.

The fund offers globally diversified equities that adhere to Shariah principles, addressing the specific needs of this customer segment.

The fund allocates its entire assets to the Shariah-compliant HSBC Islamic Global Equity Index Fund, which closely mirrors the performance of the Dow Jones Islamic Market Titans 100 Index.

Ben Tan, Chief Corporate Development Officer of Prudential Singapore said the fund is catered to both Muslim customers seeking Shariah-compliant investments and customers interested in socially responsible investment options.

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The global Islamic finance industry is currently valued at around $2.2t, with projections estimating it to reach $4.94t by 2025.

Shariah investing aligns with the permissible financial activities for Muslims and promotes ethical support for the community.

Prudential's responsible investment approach also aims to direct capital away from harmful activities towards those that contribute to environmental and social causes.

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