The agreement brings together SEI’s Shariah asset management capabilities and Allfunds’ platform and intermediary services to give banks, wealth managers, and insurance providers the opportunity to access Shariah-compliant funds and deliver more efficient and diversified investment choices, according to a news release.
Launched in May 2007, the SEI Islamic Investment Funds provide investors with a Shariah-compliant program of four global equity funds with oversight from HSBC Amanah’s Shariah Committee, the announcement said.
These funds include the SEI Islamic US Equity, SEI Islamic Pacific Basin Equity, SEI Islamic European Equity, and SEI Islamic Emerging Markets Equity Funds. The funds use SEI’s Manager-of-Managers process to select, combine, and monitor investment managers. The SEI Islamic Investment Funds are based in Dublin and offer daily liquidity.