Shari’ah Investment Track Record

2000
Element awarded Futuregrowth Pure Equity Fund Mandate

    In June 2000 Element becomes the investment manager of the Futuregrowth Pure Equity Fund (currently named the Old Mutual Albaraka Equity Fund – a unit trust with a restricted mandate based on Islamic principles). Element was the investment manager of this fund until March 2005.

2003
Element establishes a joint venture with Futuregrowth and Albaraka Bank

    In June 2003 Element established a joint venture with Futuregrowth, Albaraka Bank and Channel Islam to market the newly named Futuregrowth Albaraka Equity Fund to the SA Islamic community.

2004
Element wins 3 Raging Bull Awards in the Unit Trust General Equity Sector

    In January 2004 the Futuregrowth Albaraka Equity Fund managed by Element was awarded the ACI/Personal Finance Raging Bull Awards for the three years ending 31 December 2003 in the General Equity sector:

Top Performing Fund

Most Consistent Performing Fund

Best Sortino Risk-Adjusted Performing Fund

2005

Element earns a further Raging Bull Award and establishes SA’s first Sukuk

In February 2005 the Futuregrowth Albaraka Equity Fund managed by Element was awarded the ACI/Personal Finance Raging Bull Award for Most Consistent Performing Fund in the General Equity Sector for the three years ending 31 December 2004.

Element Establishes an Independent Shari’ah Supervisory Board (“SSB”) and Internal Head of Shari’ah

Mufti Mohammed Ali (Chairman)

Senior Lecturer: Darul Uloom Zakariyya

Mufti Ahmed Suliman
Aalim & Ifta’ completed at Darul Uloom Zakariyya

Mufti Yusuf Suliman (Internal)
CSAA (AAOIFI) and Head of Markaz Al Noor

Element co-founds the fi rst SA Institutional Islamic Balanced Fund
both Reg 28 and Shari’ah compliant

Element becomes the First SA Investment Manager to launch a Murabaha Sukuk (a Shari’ah compliant cash investment product) in conjunction with Nedbank.

2006
Element establishes its Islamic Equity Unit Trust

    Element launches its Islamic Equity Unit Trust Fund in February 2006.

2007
Element awarded Full AAOIFI Membership

    Element becomes the first SA Investment Manager to be awarded Full Membership of the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI).

2010
Element establishes its Islamic Balanced Unit Trust

    Element launches its Islamic Balanced Fund (Reg 28 compliant) in April 2010.

2012
Element establishes its Islamic Global Equity Unit Trust

    Element launches its Islamic Global Equity Fund in October 2012.

2013

    Shamier Khan becomes Shari’ah Portfolio Manager in October 2013.

2014

    We invested in South Africa’s inaugural global US dollar-based sukuk based on an attractive valuation and in order to diversify portfolio risk.

We entered into our first Shari’ah compliant forward exchange contract (FEC) in order to reduce currency risk

2015

    Element rated by PMR Africa as the best “asset management company” in the Shari’ah sector.

2016

    Best performing Shari’ah Balanced Fund for the year.

2017

    Best performing Shari’ah Balanced Fund for the year.

Best performing Shari’ah Equity Fund for the year.