Muzzammil Dhedhy
Equity Trustees has been appointed Responsible Entity (RE) for three Sharia Compliant funds spanning equity, property, and fixed income asset classes, launched by Australian based investment manager, Hejaz Asset Management.
The Hejaz Equity Fund aims to match the returns of the iShares MSCI World Islamic UCITS ETF through exposure to a diversified equities portfolio of Sharia Compliant investments. The Hejaz Property Fund seeks to replicate movements in the MSCI World REITs Index through exposure to a diversified portfolio of Sharia Compliant REIT investments. The Hejaz Income Fund’s objective is to achieve a total return equal to the Bloomberg AusBond Bank Bill Index plus 2%, through exposure to a diversified portfolio of Sharia Compliant fixed income investments.
Russell Beasley, Executive General Manager, Corporate Trustee Services, Equity Trustees said: “We are delighted to have been selected to undertake the responsible entity role for this range of funds from Hejaz who are part of a broader specialist Sharia Compliant financial services group.”
“We congratulate Hejaz Asset Management on the launch of these three funds and look forward to applying our well-established experience of funds governance to them,” said Mr Beasley.
Muzzammil Dhedhy, Chief Operating Officer at Hejaz Asset Management said: “Equity Trustees has been invaluable in helping us set up and launch these funds for Australian investors. In addition to dealing with funds governance matters, they efficiently supported the preparation and issuing of the three compliant product disclosure statements.
“We believe these three funds offer additional ‘positive impact’ benefits above and beyond returns by incorporating ethical foundations based on achieving prosperity and providing Sharia compliant investments for fund members.”
