The fund feeds 100 per cent into the underlying Shariah-compliant HSBC Islamic Global Equity Index Fund, which closely tracks the performance of the Dow Jones Islamic Market Titans 100 Index.
The global Islamic finance industry is estimated to be worth some US$2.2 trillion and anticipated to grow to US$4.94 trillion by 2025.[2]
Mr Ben Tan, Chief Corporate Development Officer of Prudential Singapore, said that the PRULink Islamic Global Equity Index Fund appeals to Muslim customers and also to customers who want to make socially responsible investments.
“Doing good and planning for your financial future can go hand in hand. There is a large opportunity to serve customers who are keen on socially responsible investments such as PRULink Islamic Global Equity Index Fund. We will continue to develop innovative and inclusive solutions to better serve the diverse needs of our customers and distributors, and to make insurance and wealth planning accessible to everyone.”
Shariah investing is aligned to the guidelines for permitted financial activities for Muslims and seeks to do good by encouraging ethical support for the community. Similarly, Prudential’s approach to responsible investment seeks to shift capital from harmful activities towards those that support environmental and social needs.
Anyone can sign up for the PRULink Islamic Global Equity Index Fund through Prudential’s Investment-Linked Plans (ILPs) such as PRUVantage Assure, PRULink InvestGrowth, PRUVantage Wealth, PRUActive LinkGuard, and PRUVantage RetireCare. Existing customers with eligible ILPs[3] who are interested in investing in the new fund can also choose to perform a fund switch, premium re-direction and/or top up.
Additional information
For more details on the long-term performance of shariah-compliant funds compared to conventional funds, please refer to: www.prudential.com.sg/PLIGEI
