Franklin Templeton Investments has launched a trio of Shariah compliant funds for its Luxembourg-domiciled Shariah Funds range.
The funds will build on its existing Shariah-compliant investment expertise in Singapore, Hong Kong, the United Arab Emirates and Malaysia.
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It has $1bn in Shariah-compliant assets under management (AuM).
Franklin Templeton said the three funds are intended to further bolster its fund offerings to investors seeking strategies which abide by Islamic investment principles.
The funds include the first ever Ucits compliant Global Sukuk fund, which will be run by Dubai-based Modieddine ‘Dino’ Kronfol, who is CIO for MENA fixed income, and international chief investment officer Stephen Dover.
This strategy will focus on Shariah-compliant bonds issued by government, government-related and corporate entities. It will invest across investment and non-investment grade bonds.
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By GlobalDataMeanwhile, the two newly-launched equity funds will be the Templeton Shariah Global Equity Fund and the Templeton Shariah Asian Growth Fund.
The Global Equity fund will be run by Alan Chua, portfolio manager and research analyst, and will seek out undervalued opportunities regardless of country, benchmark and style.
The second fund will be overseen by emerging markets veteran Mark Mobius and his team, which includes Dennis Lim and Allan Lam.
Mobius and his team will invest at least 80% of the fund’s assets in the Asian region, which excludes Japan, Australia and New Zealand.
