The Manulife Investment Shariah Progress Plus Fund will invest up to 30% of its net asset value (NAV) in Shariah-compliant equities in regional markets.
Manulife Asset Management has launched a new Shariah fund aimed at investors seeking to tap into increasing growth opportunities of Shariah-compliant companies in the region.
The Manulife Investment Shariah Progress Plus Fund will invest up to 30% of its net asset value (NAV) in Shariah-compliant equities in regional markets, said a statement.
These markets will include but not be limited to Malaysia, Australia, China, Hong Kong, Indonesia, New Zealand, the Philippines, Singapore, South Korea, Japan, Taiwan and Thailand.
The fund will have a similar investment strategy to the Manulife Investment Shariah Progress Fund but with broader exposure to the Asia Pacific region.
According to Jason Chong, Chief Executive Officer and Executive Director, Manulife Asset Management Services Berhad (MAMSB), the fund will offer access to Islamic equity investment opportunities in the region’s small to medium-sized companies.
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