Element Islamic Equity SCI Fund
The Fund Objective
The Element Islamic Equity SCI Fund is an actively managed, domestic general equity fund that aims to provide investors with Shari’ah compliant returns. It also offers investors the opportunity to achieve long-term capital appreciation with a moderate level of income. This is done by investing in a portfolio of equities listed on the JSE Securities Exchange in accordance with the Islamic Principles approved by the Shari’ah Supervisory Board.
All non-permissible income will be declared and distributed to charitable organisations on behalf of investors.
Managing Shari’ah Complaint Investments
Element Investment Managers has a long history in managing Shari’ah compliant investments in South Africa, starting with successfully managed the Futuregrowth Albaraka Equity Fund from 1 July 2000 until 7 April 2004. During this period, the fund won numerous awards Raging Bull Awards.
ASISA Fund Category
- South African- Equity – General
- FTSE/JSE All Share Index
- The fund is a long only domestic equity fund
- All investments are done in accordance with the Islamic Principles and approved by the Shari’ah Supervisory Board.
- Individual asset class limits:
- Equities: 0% – 100%
- Foreign Holdings: 0% – 30%
- The annual management fee of the fund is 1.50%, excluding VAT
- This is a flat fixed fee per month, as we do not impose any performance related fees on our unit trusts
For further information, please view our Fund Fact Sheets/ Mandatory Disclosure Documents