Geneva – BlueBox Asset Management is proud to announce the launch of a Shariah-compliant version of the successful BlueBox Global Technology Fund. This marks another important milestone in the journey of BlueBox: it has always been our vision to launch further funds; and it has also been a long-standing aim of William de Gale, lead portfolio manager, to launch an Islamic technology fund.
In 2017, Luis Viveros and Gely Solis, respectively CEO and Head of Investments of BlueBox Wealth Management, partnered with William de Gale, previously the long-time portfolio manager of BlackRock’s World Technology Fund, to launch a continuation of his highly successful investment strategy, focusing on the Direct Connection of technology to the real world.
At BlackRock, William had also been the sole portfolio manager of the firm’s global Islamic equity portfolios for well over a decade, making a Shariah version of the BlueBox Global Technology Fund an obvious next step for us.
Given our focus on profitable growth, which is virtually unique amongst technology investors, the fund invests in companies with solid financials, positive free-cash-flow and low debt levels. This approach fits well with Islamic finance standards, making the creation of a Shariah-compliant version of this strategy a simple process.
“For more than a decade I have wanted to create an Islamic global technology fund: the tech sector presents few issues when applying Shariah constraints, and in my experience Shariah funds tend to perform as well or even slightly better than their conventional equivalents. I am therefore looking forward to bringing our technology strategy to the Islamic market, as it should prove a very exciting product indeed.” – William de Gale, Lead Portfolio Manager
With a track record now exceeding four years, strong net performance of 17.4% p.a. since launch1 to July 2022, and 1st quartile performance in each of the last three calendar years2, BlueBox is ready to take on this next step.
1 Performance-based on Share Class S since launch on March 29, 2018 (ISIN LU1793347128).
2 Bloomberg, of tracked offshore IT mutual funds: 2019 94th of 406; 2020 101st of 472; 2021 109th of 659; 3 years 6th of 449
“BlueBox’s approach to investing in the technology sector makes sense to all portfolio allocators around the world, in particular to investors in the Islamic world where Shariah investment rules actually make a successful strategy even better. We are very excited about launching one of the very few Shariah-compliant tech funds in the world” – Luis Viveros, Managing Director
As a boutique Asset Manager, BlueBox is committed to continue with a simple investment approach into long-term thematics while catering for the needs of its investors. To help with the fund distribution, BlueBox partnered with ProAltus, who have the necessary experience in the Islamic financial markets.
“BlueBox focuses on thematic investing, in the form of Direct Connection, because we believe future and present earnings growth relies on those long-term trends. We are excited to provide Islamic investors access to megatrends through our reliable and disciplined approach.”
– Gely Solis, Director
The BlueBox Islamic Global Technology fund operates under BlueBox Funds SPC as a regulated mutual fund under the Mutual Funds Act of the Cayman Islands. The fund is run by the existing BlueBox Global Technology investment team, consisting of portfolio managers William de Gale and Rupert de Borchgrave.