Saudi SEDCO Capital and Amundi launch two new Shariah equity funds

The funds will track FTSE and Dow Jones Islamic indices

  
A bundle of 500 and 100 Riyal banknotes in Saudi Arabia.  Image used for illustrative purpose.

A bundle of 500 and 100 Riyal banknotes in Saudi Arabia.  Image used for illustrative purpose.

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Saudi Arabia’s SEDCO Capital, a global Shariah-compliant firm with over $5 billion in assets under management has launched two new global passive equity funds in partnership with asset manager Amundi.

The $69 million SC Global Listed Infrastructure Equity Fund will broadly replicate the performance of the FTSE Custom Global Core Infrastructure 50/50 Islamic Net Return Index.

The SC Global Low Volatility Equity Fund, with $91 million, will broadly replicate the performance of Dow Jones Islamic Market World Low Volatility 300 Net Total Return Index.

Both funds will be Shariah compliant and adhere to responsible investment principles, the firms said in a statement on Tuesday.

(Writing by Brinda Darasha; editing by Seban Scaria)

brinda.darasha@refinitiv.com

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