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Islamic Finance Briefing - Categorized | Compliance, Tax, Legal, Regulatory, Funds more

Taurus Ethical Fund — Shariah-compliant

Posted on 16 March 2009

From Thehindubusinessline.com: Close on the heels of Benchmark Mutual Fund’s Shariah BEeS, Taurus Mutual Fund has unveiled its actively managed Taurus Ethical Fund. This open-end fund is the first actively managed product in the Indian mutual fund space that conforms to the principles of Shariah investing. It is benchmarked to the S&P CNX 500 Shariah Index.

Backdrop: The fund will refrain from investing in sectors or companies that aren’t compliant with Shariah principles. In the listed space, that means sectors such as banks and financials, tobacco, breweries, alcohol related chemicals and meat processing will not figure in the fund’s portfolio. …. Full Article: Source

 
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