AIA Singapore has launched the AIA Shariah Global Diversified Fund which will be made available to customers through several investment-linked plans (ILPs).
The plans include AIA Pro Achiever, AIA Pro Achiever 2.0, AIA Pro Lifetime Protector, AIA Pro Lifetime Protector (II) and AIA Invest Easy.
Existing customers of these plans may perform a fund switch or a top-up into the Shariah fund.
Shariah-compliant funds do not invest in industries or businesses whose underlying activities are involved in any non-halal items such as gambling, alcohol, tobacco, pork and adult entertainment, to name a few. These funds also do not invest in interest-bearing instruments.
This Singapore dollar denominated ILP sub-fund is a portfolio of global Shariah-compliant equities and Sukuk backed by fund management house Franklin Templeton.
The asset allocation of the ILP sub-fund comprises of the Templeton Shariah Global Equity Fund, the Franklin Global Sukuk Fund and the Franklin Shariah Technology Fund.
Liu Chun Yen, chief investment officer at AIA Singapore, said: “AIA Singapore is thrilled to be Singapore’s first insurer to be launching the Shariah Balanced ILP fund to meet the increasing demand amongst Muslim consumers here where such investment options are limited.
“The overlap between Shariah-compliant finance and Environmental, Social and Governance (ESG) principles will also see non-Muslim consumers interested in the fund to maximise capital growth while investing responsibly.”
