Wahed Delivers America's First Halal Index Funds; Enables Clients To Invest Into S&P Shar'iah Funds For The First Time

NEW YORK, Sept. 6, 2018 /PRNewswire/ -- Wahed Invest LLC ("Wahed"), the first digital halal-focused ethical investing platform, is enabling its clients to invest into the S&P 500 Shar'iah Compliant Index – for the first time. Wahed today announced two funds: Wahed S&P Shar'iah Fund and Wahed S&P Dividend Growth Fund.

Wahed's new funds offer two improvements over other Shar'iah funds. First, the Wahed S&P Shar'iah investment solutions will be the first passive, index-tracking investment option available in the United States. Second, the new solutions will have zero fund management fees, compared to fees of 1% and above charged by existing Halal mutual funds.

"The last few decades have shown that active U.S. equity funds are unable to keep up with the broader market consistently. As a result, broader investors have moved away from high-cost mutual funds into lower cost index funds, such as Vanguard and iShares," said Samim Abedi, Global Head of Portfolio Management at Wahed. "The S&P 500 Shar'iah index, which our investment solution will track, has performed very well and in-line with the broader market. Wahed is pleased to lead the Halal investing movement, enabling Muslim investors to adhere to their values without compromising returns."

The funds announced today are:

• Wahed S&P Shar'iah Fund: Takes the S&P 500, the most widely used index to gauge large-cap U.S. companies, and omits prohibited sectors, such as financials, gambling, alcohol, and defense names, as per Shar'iah guidelines.
• Wahed S&P Dividend Growth Fund: Designed to track the performance of Shar'iah-compliant companies within the S&P 1500 Composite that have followed a managed-dividend policy of consistently increasing dividends every year for at least 20 years.

Wahed's easy-to-use platform is also the only Halal-focused system that is overseen by an Ethical Review Board, preventing concerned Muslims and other Americans from investing in companies that do not agree with their values (e.g., companies involved in any aspect of the liquor, firearms, gambling and tobacco industries). With a $100 minimum investment and an easy-to-use interface, Wahed makes the onramp for ethical investing accessible to almost anyone.

About Wahed

Wahed is an SEC-registered investment advisor and the first digital advisor focused on building a Halal investment platform.  Wahed provides a comprehensive, easy-to-use option to invest in ethically responsible investment portfolios; or even rollover an IRA or 401K. Designed specifically for the Islamic community, Wahed's investment portfolios are approved by an Ethical Review Board, enabling Muslims to feel confident that their investments are ethically sound and Halal.

SOURCE Wahed Invest LLC