PETALING JAYA: Principal Islamic Asset Management Sdn Bhd, a joint venture between Principal Financial Group and CIMB Group Holdings Bhd, has reached an agreement with Standard Chartered Securities Brunei to introduce four of its undertakings for the collective investment in transferable securities (UCIT) funds to Brunei.
The UCIT offers Brunei investors access to the Asia Pacific and global markets through the Islamic Asean Equity Fund, Islamic Asia Pacific Dynamic Income & Growth Fund, Islamic Global Multi-Asset Fund and Global Sukuk Fund.
Principal Islamic CEO Datuk Paduka Syed Mashafuddin (pix) said syariah-compliant funds have grown in popularity in recent years and have gained interest from global customers.
“With the introduction of our Islamic Asia Pacific and Asean funds to Brunei, we hope that Standard Chartered customers who are seeking opportunities for diversification and capital growth through investment across the Asia and Asia Pacific region will reap the benefits from their rapid growth and compelling medium to long term investment opportunities while meeting syariah exclusion considerations,” he said in a statement today.
The funds provide access to sustainable portfolio practices as they use environmental, social, and governance (ESG) ratings to help measure sustainability risk and promote sustainability practices while being syariah-compliant.
“With continued impact of the Covid pandemic contributing to heightened investor appetite in sustainability, we believe that syariah investing provides investors with an opportunity to not only pursue syariah-compliant investments but also help achieve sustainability aims and improve the potential for risk-adjusted investment returns,” said Syed.
Standard Chartered Securities CEO Brenda Low said since launching Islamic investment offerings through the first Islamic window in April last year, it now has the widest range of conventional and syariah-compliant funds available in the market.
“We believe that everyone has a unique objective and belief when it comes to investing. From ESG-focused to syariah-compliant, or from geographical to sector-specific; be it in asset classes or foreign currency,“ she added.
