Shariah-Compliant ESG Fund Launched by UOB Asset Management Malaysia

The United Overseas Bank Asset Management (UOBAM) Malaysia, a sister company of United Overseas Bank Malaysia, has launched an environmental, social and governance (ESG) fund to attract retail investors. The United-i Asia ESG Income Fund (UiAIF) will invest in equities and debt instruments issued by companies in Asia (except Japan) whose businesses give the highest priority to ESG-related business models. This is a Shariah-compliant ESG fund providing retail investors with dividends and capital appreciation over the medium to long term.

A fundamental principle of Shariah-based investing, prohibits interest, security lending and short-selling. No investments are made in companies involved in sectors such as tobacco, alcohol and breweries, weapons and armaments and non-halal prod...