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Islamic KiwiSaver marks first anniversary

New Zealand’s first Sharia compliant KiwiSaver scheme turns one, celebrates with a trebling of membership sign ups and a +4.05% return for the year.

Amanah KiwiSaver Plan may only be one-year-old, but already they are experiencing encouraging results, with positive fund performance and a 150% increase in membership sign ups.

Officially launched in January last year by Auckland barrister, Brian Henry, the unit price of Amanah Growth Fund gained NZD +4.05% for the year 01 April 2015 – 31 March 2016, an outstanding performance despite the current state of the market.

Affirmative Results

News of the young investment group’s affirmative results will be appreciated by its members, with the fund’s performance sitting in the middle of its competitors – some of which have been in business for almost a decade.

While the value of investment in any KiwiSaver scheme may rise and fall in the short-term due to market volatility or currency fluctuations, Amanah Ethical focuses on achieving steady halal investment gains in the long-term, which dependent on a client’s investment horizon (the time until their retirement), is usually many years.

“When I heard Brian was establishing a KiwiSaver I joined as soon as I could.

says member, Sandra Clark. “I worked for Brian through the lead up to the Winebox before I brought up a family of three. I know and trust Brian’s strong ethics and integrity. A key reason I joined the Plan is because I know that the fund has strong ethical principles.”

Henry and his clients celebrate the news off the back of a trip to Pakistan earlier this month, where Henry was invited to speak at the 2016 Global Forum on Islamic Finance about selling a Sharia fund in a western country.

“The performance we have returned this past year has been achieved while meeting our strict ethical standards. We are showing that ethical investing can provide a good performance for KiwiSaver members,” Henry said.

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