IslamicFinance.de

Sustainable investing is increasing in popularity as more investors and companies prioritise the need to act responsibly in order to create a positive lasting impact on the community and the environment. Shariah-compliant investing shares many similarities and goals with sustainable investing. Governments, institutions and the younger generation are more concerned about environmental issues such as climate change. As such, they demand more independent governance structures and want corporations to fulfil social responsibilities. Maybank Asset Management recently launched the Maybank Global Sustainable Equity-i Fund, its first actively managed shariah-compliant ESG fund that invests in both shariah-compliant and sustainable companies in the global markets. A minimum of 80% of the fund will be in shariah-compliant equities and shariah-compliant related securities. The rest of the fund will be invested in Islamic liquid assets.

Malaysia fund house Maybank Asset Management has chosen Standard Chartered as its trustee for the first sharia-compliant fund that has been approved for Asean passporting. The Maybank Bosera Greater China Asean Equity I-Fund was approved by the Securities Commission of Malaysia for distribution under the Asean Collective Investment Scheme (CIS) in March. The fund was subsequently launched for sale in the Malaysian market in April. Maybank AM has two funds from its Singapore office that are also waiting to be passported in Malaysia and Thailand. But the contract with StanChart only covers Maybank AM Malaysia.

Malaysia's Malayan Banking (Maybank) has launched an Islamic asset management unit to cater to growing investor appetite for sharia-compliant investment products. Maybank asset management will leverage the Maybank group's network of business lines, which range from consumer banking to Islamic insurance, as well as its geographical presence across Asia. It aims to launch Asian-themed investment funds using a bottom-up investment strategy, with products to be marketed primarily in Malaysia and Indonesia. Maybank acquired Indonesian asset management firm PT GMT Aset Management, and it will also explore opportunities in the Middle East through Maybank Investment Bank's stake in Saudi Arabia's Anfaal Capital, according to Nor Azamin Salleh, chief executive of Maybank asset management.