Overview
Sharia means the “sacred law” and for Muslims the term refers to teachings that guide both daily life and economic investments.
Sharia investing is conducted in accordance with Sharia investment guidelines that have been established by the leading Global Islamic Institutions e.g. the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI).
These guidelines stipulate that investments in shares in industries identified as morally deficient, such as those related to alcohol, tobacco, gambling and pornography are prohibited. In addition, because Sharia law prohibits the charging of interest (riba), investments in many financial companies are excluded.
Sharia investing requires that companies that do not comply with Sharia law are removed as investment options and the remaining stocks are evaluated according to a series of financial ratio filters.
Fund Overview
Fund Objective
A Sharia-compliant fund that aims to provide steady capital growth and a total portfolio return that is better than the average equity general fund.
Fund Investment Strategy
In order to achieve these objectives, the fund will generally be invested in a diversified portfolio of South African equities subject to the statutory investment limitations. The fund employs Kagiso Asset Management's investment process, with several filtering layers implemented over and above this.
The underlying investments will comply with Sharia requirements as prescribed by the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI).
Investor Profile
Suitable for Muslim investors seeking a Sharia-compliant portfolio of South African equities, who are in their wealth accumulation phase. Investors would be able to withstand short-term market fluctuations in pursuit of maximum capital growth over the long term.
Sharia Investing & Sharia Board
For more information about Sharia investing and our Sharia Board click here.
Performance
Performance to 31 December 2011
| Fund | Benchmark* | Out/(under)performance | |
| Since inception (annualised) | 18.1% | 17.0% | 1.1% |
| Latest 2 years (annualised) | 12.2% | 10.4% | 1.8% |
| Latest 1 year (annualised) | 3.0% | 3.2% | -0.1% |
* Average performance in General Equity unit trust universe.
Performance is quoted from Morningstar as at 31 December 2011 for investment using Class A Net Asset Value (NAV) prices with income distributions reinvested. Performance figures are quoted after the deduction of all costs incurred within the fund.
Fund Factsheet
For more information on this fund read the fund factsheet.
Factsheet download links for 2011
» Kagiso Islamic Equity - December 2011
» Kagiso Islamic Equity - November 2011
» Kagiso Islamic Equity - October 2011
» Kagiso Islamic Equity - September 2011
» Kagiso Islamic Equity - August 2011
» Kagiso Islamic Equity - July 2011
» Kagiso Islamic Equity - June 2011
» Kagiso Islamic Equity - May 2011
» Kagiso Islamic Equity - April 2011
» Kagiso Islamic Equity - March 2011
Factsheet download links for 2010
» Kagiso Islamic Equity - December 2010
» Kagiso Islamic Equity - November 2010
» Kagiso Islamic Equity - October 2010
» Kagiso Islamic Equity - September 2010
» Kagiso Islamic Equity - August 2010
» Kagiso Islamic Equity - July 2010
» Kagiso Islamic Equity - June 2010
» Kagiso Islamic Equity - May 2010
» Kagiso Islamic Equity - April 2010
» Kagiso Islamic Equity - March 2010
BrochureFor more information on this fund click here. |
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Non–Permissable Income
To ensure that the Kagiso Islamic Equity Fund complies with Sharia Law, it is mandatory that Kagiso deducts all non-permissable income (interest or riba) from the total income distribution due to the investor. All non-permissable income deducted will be donated by Kagiso on behalf of investors to the Kagiso Trust and/or other registered charitable organisations, at the sole discretion of Kagiso.
Portfolio Holdings
Click here to view the latest quarterly portfolio holdings.
Minimum Investment
Lump sum: R5000 and/or monthly debit order: R500
Fee Schedule
Fees (excl. VAT)
| Initial fee | |
|
|
no initial fee will be charged on any investment |
|
|
upfront advice fees of up to 3% will be allowed for advisors placing investments directly with Kagiso |
| Annual management fee | class A fixed annual fee: 1.00% class A performance fee: none |
| Annual advisor fee | maximum of 1% where initial fee is 1.5% or less maximum of 0.5% where initial fee is more than 1.5% |
| Linked Investment Service Provider(LISP) fee | a portion of Kagiso’s annual management fee may be paid to administration platforms such as Linked Investment Service Providers (LISP’s) as payment for administrative and distribution services |
Invest With Us
Access our investment application form and transaction forms below.
Application Forms
Investment Application Form (individuals)
Investment Application Forms (legal entities)
Transaction Forms
Switch Form
Redemption Form
Debit Order Form
Additional Investment Form
Transfer of Ownership Form
Change of Static Details Form
Intermediary Forms
Intermediary Application Form
Intermediary Terms & Condition Form
Once you have filled in the appropriate form please fax or email the form and any supporting documents to Kagiso Client Service: Fax +27 86 673 9294
E-mail clientservice@kagisoam.com
Fund Overview
Fund Objective
A Sharia-compliant fund that aims to provide steady long-term returns and capital growth. The fund seeks to provide a moderated exposure to volatility in the short term.
Fund Investment Strategy
The portfolio will be invested in a wide variety of domestic and international asset classes such as equity securities, sukuks and listed property, within the constraints of the statutory investment restrictions for retirement funds.
The underlying investments will comply with Sharia requirements as prescribed by the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI).
Investor Profile
The fund is suitable for Muslim investors requiring a Sharia-compliant portfolio appropriate for retirement schemes. Investors would also be seeking to build and grow their long-term retirement capital, while preserving the purchasing power thereof over the long-term and limiting exposure to short-term market fluctuations.
Sharia Investing & Sharia Board
For more information about Sharia Investing and our Sharia Board click here.
Performance
Performance to 31 December 2011
| Fund | Benchmark* | Out/(under)performance | |
| Since inception (unannualised) | -1.9% | 3.7% | -5.6% |
*Average performance in Asset Allocation Prudential Variable Equity unit trust universe.
Performance is quoted from Morningstar as at 31 December 2011 for a lump sum investment using Class A Net Asset Value (NAV) prices with income distributions reinvested. Performance figures are quoted after the deduction of all costs incurred within the fund.
Fund Factsheet
For more information on this fund read the fund factsheet.
BrochureFor more information on this fund click here. |
|
|
Non–Permissable Income
To ensure that the Kagiso Islamic Balanced Fund complies with Sharia Law, it is mandatory that Kagiso deducts all non-permissable income (interest or riba) from the total income distribution due to the investor. All non-permissable income deducted will be donated by Kagiso on behalf of investors to the Kagiso Trust and/or other registered charitable organisations, at the sole discretion of Kagiso.
Portfolio Holdings
Click here to view the latest quarterly portfolio holdings.
Minimum Investment
Lump sum: R5000 and/or monthly debit order: R500
Fee Schedule
Fees (excl. VAT)
| Initial fee | |
|
|
no initial fee will be charged on any investment |
|
|
upfront advice fees of up to 3% will be allowed for advisors placing investments directly with Kagiso |
| Annual management fee | class A fixed annual fee: 1.25% class A performance fee: none |
| Annual advisor fee | maximum of 1% where initial fee is 1.5% or less maximum of 0.5% where initial fee is more than 1.5% |
| Linked Investment Service Providers(LISP) fee | a portion of Kagiso’s annual management fee may be paid to administration platforms such as Linked Investment Service Providers (LISP’s) as payment for administrative and distribution services |
Invest With Us
Access our investment application form and transaction forms below.
Application Forms
Investment Application Form (individuals)
Investment Application Forms (legal entities)
Transaction Forms
Switch Form
Redemption Form
Debit Order Form
Additional Investment Form
Transfer of Ownership Form
Change of Static Details Form
Intermediary Forms
Intermediary Application Form
Intermediary Terms & Condition Form
Once you have filled in the appropriate form please fax or email the form and any supporting documents to Kagiso Client Service: Fax +27 86 673 9294
E-mail clientservice@kagisoam.com
Sharia Advisory & Supervisory Board
The Kagiso Islamic Funds have a Sharia Advisory and Supervisory Board, which is headed up by Sheigh Mohammad Tauha Karaan, principal of Dar al-‘Ulum al-‘Arabiyyah al-Islamiyyah.
The role of the Sharia Advisor is to meet with the portfolio manager and review each of the holdings in the Sharia funds on a regular basis. In addition to the industry screens, the Sharia Advisor is made fully aware, through the manager’s Sharia Stock Report, of the business areas in which the highlighted company operates. The advisor then has to approve of this business activity, indicating whether it is permissible for inclusion or exclusion in the funds.
Members:
Sheigh Mohammad Tauha Karaan is the Founder and Principal of Dar al-‘Ulum al-‘Arabiyyah al-Islamiyyah, which is based in the Strand, Western Cape. He is also a long-standing member of the Fatwa Committee of the Muslim Judicial Council in Cape Town.
Mufti Zubair Bayat is the Director of DIRECT (the Darul-Ihsan Research and Education Centre) and serves in this capacity as an advisor to numerous Islamic bodies. He is also the Media Officer of Jamiat-KZN as well as the Editor of the Al-Jamiat newspaper.
Mufti Ahmed Suliman serves as a Sharia Advisor and Board Member to a number of financial and investment companies, including Takafol (SA) and Standard Bank Africa.
Sharia Certificates
In order to ensure that the Kagiso Islamic Equity Fund complies with the requirements of Sharia, the Sharia Supervisory Board reviews the stock universe as well as the current portfolio for the fund. A Sharia Certificate is then issued bi-annually in March and September, recording that the fund complies with the requirements of the Sharia.
For the latest Sharia Certificate click here.
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