ShariahShares Serves Muslims’ Investment Needs

By
Devon Layne
July 17, 2012
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ShariahShares, the Irvine, Calif.-based sponsor, looks to provide for Muslim investors by creating ETFs that invest solely in companies that follow Shariah law—moral codes of Islam—according to an article on Investor’s Business Daily.

Even though the target audience is Muslim investors, non-Muslim shareholders shouldn’t be discouraged, said Saeid Hamedanchi, founder and CEO of ShariahShares, in the interview with Investor’s Business Daily.

As of now, ShariahShares will begin with ETFs based on the S&P 500 Shariah Index, but may branch out to other Shariah-compliant companies as time progresses, the article said.

To read the interview, head over to news.investors.com.

ETF DAILY DATA

The bond funds 'HYG,' 'TLT' and 'JNK' added money on Wednesday, March 25, as total U.S.-listed ETF assets dipped just below $2.1 trillion.

A number of iShares funds, including the bond funds 'TLT' and 'HYG' paced the firm's issuer-leading inflows on Wednesday, March 25. Total U.S.-listed ETF assets meanwhile dipped to just below $2.1 trillion.

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