IslamicFinance.de

#Canadian Wealthsimple Financial introduced a Shariah-compliant portfolio to expand its product offerings in an increasingly crowded robo-adviser market. According to co-founder Michael Katchen, Wealthsimple’s Halal Investing portfolio is aimed at setting the company apart from its peers. He expects the portfolio’s interest to closely mirror the company’s socially responsible products. Wealthsimple’s fees are a flat 0.5% for the first $100,000 invested and drop to 0.4% on any additional investment. Privately held Wealthsimple has raised 100 million Canadian dollars ($79.6 million) over several funding rounds over the past three years led by a subsidiary of the Power Corporation of Canada. Katchen said he expects to tap another round of venture funding before seeking an initial public offering.