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Kochi: Equity Intelligence, a leading SEBI registered Portfolio Manager in India, today launched Portfolio Management Services for 'Islamic investors', targetting 500 customers in the first year.
Called 'Shariah PMS', Equity Intelligence was looking at an assest base of rs 100 crore, CEO Porinju Veliyath, told reporters here.The company would soon embark on marketing of the product in Middle East and US, he said.
Equity Intelligence was also studying the possibility of launching a 'Vatican Fund', which would adhere to the investment norms prescribed by the church, he said.
Islam represents 25 per cent of the world population and India has the second largest Muslim population in the world.
Many NRI investors from the Gulf have been asking for such a product. This was the right time to launch the product for this segment, Veliyath said. Explaining Shariah investing,he said it was about investing strictly in ethical businesses and avoiding businesses against the spirit of Islamic law.
For esample, he said, investing in a company which is involved in the business of Alcohol, Banking, Tobacco and Gambling is banned under Shariah.Investing in financial sound companies from sectors like Technology, Healthcare, Telecommunciaiton, Education, Infrastructure was Shariah complaint, he said.
Indian stock market contains several Shariah compliant stocks which can create superior wealth, he said.
'Our Shariah PMS is an opportunity for Islamic investors to employ high quality managers to generate superior returns compared to conventional investing', he said adding most of the booming sectors are Shariah compliant.
The company also launched a new logo and there are plans to initiate marketing in selective markets, John Anthraper, Manager, Business Development, said. PTI
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Equity Intelligence was also studying the possibility of launching a 'Vatican Fund', which would adhere to the investment norms prescribed by the church, he said.
Islam represents 25 per cent of the world population and India has the second largest Muslim population in the world.
Many NRI investors from the Gulf have been asking for such a product. This was the right time to launch the product for this segment, Veliyath said. Explaining Shariah investing,he said it was about investing strictly in ethical businesses and avoiding businesses against the spirit of Islamic law.
For esample, he said, investing in a company which is involved in the business of Alcohol, Banking, Tobacco and Gambling is banned under Shariah.Investing in financial sound companies from sectors like Technology, Healthcare, Telecommunciaiton, Education, Infrastructure was Shariah complaint, he said.
Indian stock market contains several Shariah compliant stocks which can create superior wealth, he said.
'Our Shariah PMS is an opportunity for Islamic investors to employ high quality managers to generate superior returns compared to conventional investing', he said adding most of the booming sectors are Shariah compliant.
The company also launched a new logo and there are plans to initiate marketing in selective markets, John Anthraper, Manager, Business Development, said. PTI
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