Mackenzie Shariah Global Equity Fund

As-Salamu alaykum

At Assad Wealth Management, we understand the unique financial needs of our Muslim clients. For over 19 years, we have worked tirelessly to comply with Halal investment principles while working to grow wealth equitably and sustainably.

Now, we are proud to announce a new partnership offering a breakthrough solution - the Mackenzie Shariah Global Equity Fund. This Shariah-compliant fund expands access to halal investing, so prosperity does not have to compromise your faith.

With a dedication to compassionate and values-driven guidance, we're committed to advancing inclusive investing for all. The Mackenzie Shariah Fund marks a milestone in our mission. Let us help you achieve financial goals in harmony with your beliefs.

Why invest in this fund?

Shariah-compliant investing certified to be aligned with your beliefs.

Active management in identifying high-quality, undervalued companies with strong growth potential.

Focused on fundamentals with a highly experienced team coupled with a disciplined, risk-aware investment approach.

How does an investment comply with shariah principles?

To help ensure compliance, shariah investment funds typically retain the services of an Islamic finance advisory board, an independent body of Islamic legal scholars. This board provides guidance and oversight on the compliance of financial products, services and transactions with the principles of shariah.

The board will typically conduct periodic audits of a portfolio’s transactions to determine shariah compliance for the applicable audit period, and issue a certificate of shariah compliance, or fatwa.

How does the Mackenzie Shariah Global Equity Fund manage compliance requirements?

The fund only invests in companies that have been pre-approved for inclusion in the Dow Jones Islamic Market World Index, which is built with guidance from the globally recognized Shariah Advisory Board of Ratings Intelligence Partners.

Ratings Intelligence Partners issues a judgment (“fatwa”) on the shariah compliance of each company that is included in the index. They also conduct a semi-annual shariah audit on the index. The fund has also retained the services of this advisory board to help ensure compliance and the accurate calculation of the fund’s purification ratio.

Invest with peace of mind

The Mackenzie Shariah Global Equity Fund is managed in partnership with Ratings Intelligence, an independent shariah advisory board of globally recognized Islamic scholars. The board provides shariah compliance certification (fatwa) as well as semi-annual audits of the fund to help ensure holdings remain compliant with shariah principles.

The fund’s portfolio management team uses the Dow Jones Islamic Market World Index as the investible universe of pre-approved shariah-compliant stocks. As the starting point, the index already excludes companies that are prohibited (haram), as defined by Ratings Intelligence, and is subject to regular audits as well.

On an annual basis, Mackenzie calculates and provides the fund’s purification ratio so investors can choose to make a charitable donation if needed.

Experienced team, focused on fundamentals

Mackenzie’s Global Quantitative Equity Team believes in a core style of investing that employs fundamental ideas through a disciplined, risk-aware investment approach. The team, led by 30-year quantitative industry veteran Arup Datta, uses several of the same elements that a fundamental manager uses, while leveraging a systematic process to analyze stocks. The team seeks out global companies that they believe have strong fundamentals, sound financials and attractive growth prospects, providing potential for long-term capital appreciation in various markets.

Meet our Team

Type of fund

Global equity

Risk

Medium

Embrace the value of active shariah-compliant global equity investing

This is not investing on autopilot. The portfolio management team actively constructs the fund to serve as a core global equity allocation, which aims to outperform in various market environments.

The team applies their proprietary quantitative models to assess all pre-screened stocks based on value, quality, growth and the activity of other investors, with the aim to provide long-term capital growth for investors. 

  • The Dow Jones Islamic Market Indices measure the performance of stocks in various markets, which are Shariah-compliant and meet other eligibility requirements depending on the specific index or market as described below. The indices employ a float-adjusted market capitalization (FMC) weighting scheme, unless otherwise noted in Eligibility Criteria and Index Construction.

    The index universe is all constituents of a multitude of country-level or regional-level benchmark indices, each of which covers approximately 95% of the underlying market’s FMC. Countries or regions are selected from the Dow Jones Global Index, with the following exceptions:

    • Exclude Israel

    • Bahrain, Kuwait, Oman, Qatar, and UAE are selected from the Dow Jones GCC Index.

    • Bulgaria, Estonia, Jordan, Latvia, Lithuania, Morocco, Pakistan5, Romania, Slovenia, and Sri Lanka are selected from their respective S&P Global BMI country index.

  • Starts with a shariah-certified universe of investable companies.

  • Multi-factor lens is used to gain balanced insights on company fundamentals.

  • Regular audits by Ratings Intelligence ensure shariah-compliance.

  • Dividend purification is the process of purging any income a company makes from sources that are not shariah-compliant, or “impure”, such as any non-permissible business activities or interest income. This non-permissible revenue must be less than 5% of a company’s total revenue for the company to pass sector-based screening.

    The purification ratio represents the percentage of impure income that may be purified by the investor through donation to a charity or other worthy cause. In a shariah-compliant fund, the purification ratio for dividend income is calculated by removing the portion of dividends that is generated from non-shariah compliant sources, such as interest income or income from prohibited activities.

    On an annual basis, Mackenzie Investments will publish the purification ratio information on the Mackenzie website, so investors can make informed decisions about any purifying donations they may wish to make.

Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the prospectus before investing. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. The content of this document (including facts, views, opinions, recommendations, descriptions of or references to, products or securities) is not to be used or construed as investment advice, as an offer to sell or the solicitation of an offer to buy, or an endorsement, recommendation or sponsorship of any entity or security cited. Although we endeavour to ensure its accuracy and completeness, we assume no responsibility for any reliance upon it.