Manulife Launches Two Shariah-Compliant Funds for Muslim Investors in Canada

Canada-headquartered Manulife Financial Corporation (Manulife) has launched two Shariah-compliant exchange-traded funds (ETFs) to the iWatch Platform for its workplace savings plans. The two funds include the Manulife SP Funds S&P 500 Shariah Industry Exclusions ETF and the Manulife SP Funds Dow Jones Sukuk ETF.

Why it Matters?

According to an article on the Manulife website, these new ETFs will enable Muslim investors to build a diverse and Shariah-compliant portfolio with broad equity and fixed income exposure, and allow them to align their retirement portfolio with religious values and personal risk tolerance. In addition, the offering of these funds ensures equitable opportunities for an underserved segment of investors and the sponsors that s...