Lombard Odier, Saudi's SEDCO Capital launch ESG-focused Shariah-compliant fund

The launch of the fund is in response to client demand for both sustainable and Shariah-compliant investments, according to Lombard Odier

  
Conceptual photo for Islamic finance, economy and profit. Image used for illustrative purpose.

Conceptual photo for Islamic finance, economy and profit. Image used for illustrative purpose.

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Saudi Arabia’s SEDCO Capital and Swiss private banking and asset management group Lombard Odier, have launched a new environmental and social governance (ESG) focused Shariah-compliant fund.

The SC LO Global ESG Equities Fund aims to outperform the Dow Jones Islamic Market World Developed Total Return Index, according to a joint statement.

It will be managed by Saudi-based SEDCO Capital and Lombard Odier will act as the investment adviser.

Samer Abu Aker, CEO of SEDCO Capital, said: “In today’s global investment climate, characterised by an uneven recovery from the COVID-19 pandemic, significantly heightened risks from climate change, rapidly evolving technologies, and unpredictable market cycles, our clients want the confidence that their capital is being deployed into high-performing, stable, ethical, and sustainable assets.” 

Arnaud Leclercq, Partner Holding Privé and Head of New Markets, Lombard Odier, said: “Together we are responding to rising client demand and seeking to offer clients the best of both worlds: sustainable investing combined with Islamic finance principles. We expect the new fund to successfully appeal to the rapidly growing number of Shariah-compliant and conscientious investors in the Middle East, South Asia, Europe and elsewhere”.

(Writing by Imogen Lillywhite; editing by Seban Scaria)

Imogen.lillywhite@refinitiv.com

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© ZAWYA 2021


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