iAtoday

Group Savings and Retirement will soon be adding to its investment options a fund that complies with Islamic investment principles.

Islamic investment principles prohibit investing in interest-bearing securities as well as companies that draw profits from pork products, the sale of alcohol and tobacco, pornography, gambling, weapons, or earn interest income on loans, among other things.

The Islamic Equity Index ACWI (BlackRock) Fund aims to track the MSCI ACWI Islamic Index, which is primarily composed of companies located around the world, including emerging markets. It will be added automatically to the standard fund lineup of group retirement savings plans on November 30. Your clients with a customized fund lineup who wish to add the Islamic Equity Index ACWI (BlackRock) Fund must make a written request to their Client Relationship Manager.

On November 30, a news item will be posted in My Client Space to announce the opening of the Islamic Equity Index ACWI (BlackRock) Fund to plan sponsors and members.