Swip Shari'ah fund defies downturn

Ethical screening keeps Shari'ah vehicle clear of financials and over-leveraged stocks

Swip's global Shari'ah fund has defied the market downturn thanks to its ethical screen's avoidance of financials and highly leveraged companies. Suhail Arain, manager of the Luxembourg-domiciled Swip Islamic Global Equity, said the fund is a serious option for Islamic and non-Islamic investors alike. Its 4.5% return over the last year would place it top quartile in the Global Growth sector, with the peer group producing a 0.4% average over the timescale according to Morningstar. "Islamic investment tends to focus more on tangible assets as opposed to intangible ones, so the stocks th...