SGAM AI is to launch sharia-compliant index funds

These funds will track the S&P US Sharia Index, S&P 350 Europe Sharia Index, S&P 500 Japan Sharia Index, S&P BRIC Sharia Index and S&P GCC Sharia Index. The funds will be sold in a Luxembourg-based SICAV Ucits III format.

SGAM AI says it plans to market these Ucits-III complaint index funds by using various local distribution networks, particularly in the Middle East. SGAM AI also says it will offer structured products, including capital protected products linked to the indexes.

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