ETF Requests: Islamic / Shariah compliant ETFs & Funds

General
1

Hi,

I am interested in transferring both my ISA and SIPP to InvestEngine, however I primarily invest in Islamic ETFs which are Shariah compliant. I’ve seen some requests for these funds a long time ago but as it stands there’s only 2 Islamic funds available on InvestEngine (ISWD & ISUS).

Can I please request the following to be added too:

  • Invesco Dow Jones Islamic Global Developed Markets UCITS ETF Acc (IGDA LN)
  • HSBC ISLAMIC GLOBAL EQUITY INDEX FUND (IC GBP)
  • HSBC also launched several new Islamic ETFs 1-2 years ago:
    HSBC Islamic Investment Range

The InvestEngine platform looks great but I think the range of ETFs available simply do not match what’s available on platforms like Interactive Investor or Hargreaves Landsdown. So it’s holding myself (and probably others) back from transferring over. I know my partner would also transfer over if more Islamic funds were available.

If we can get some feedback on the above list and any indication around timeline for these to be added that would be great.

Thanks!

1 Like
2

Hi! Thank you for your interest in transferring your ISA and SIPP to InvestEngine!
Your feedback is crucial to us, and we continuously strive to enhance our ETF selection based on community suggestions. I have forwarded your request to our investment team for consideration, specifically for inclusion in our DIY portfolio option.
Thank you once again for your feedback and for considering InvestEngine.

3

I second this suggestion! I am sure many people who invest in Shariah-compliant would appreciate more funds.

Especially HSBC Islamic Global Equity Index. It is the best-performing Islamic Fund out there right now.

HSBC Islamic Global Equity Index BC GBP - FUND:BJLVT85
HSBC Islamic Global Equity Index BD GBP - FUND:BJLVT96
HSBC Islamic Global Equity Index IC GBP - FUND:BMVDH00
HSBC Islamic Global Equity Index IC GBP - FUND:BDCVVD1

No other fee-free competitors like Trading 212 or Free Trade offer this. So loads of people including myself have had to suffer extortionate fees on legacy platforms on AJ Bell. When you consider they charge 0.25% account charge + £1.50 for each trade, I would switch in a heartbeat if there was a cheaper solution.

4

Hello @arafatkadir1
Unfortunately those are OEIC Funds that you list.
InvestEngine only features Exchange Traded Funds, so won’t carry them.

Most of the lowest-cost platforms focus on ETFs. I don’t see an ETF that tracks the same index (Dow Islamic Global 100). Available Islamic ETFs are tracking broader indexes and have under-performed that Global 100 Index, as you found (the market has been attractive for large/growth lately).

AJB are competitive in the OEIC space. Interactive Investor or IWEB can be cheaper though, depending on pot size and trading frequency.

2 Likes
5

+1 on this request specifically HSBCs new ETFs.

T212 AJB provide access to them for those needing access to LSE GBP sharia-compliant tracker ETFs acc - this fulfils that need.

The alternative on the platform at the moment is £ISWD and $ISDE (which incurs FX fees to USD) so EM access would be more of a priority.

Enclosed below;

IE0009BC6K22 - HSBC MSCI Emerging Markets Islamic ESG UCITS ETF
IE0001XCFC82- HSBC MSCI World Islamic ESG UCITS ETF
IE000AGFZM58 - HSBC MSCI EUROPE ISLAMIC ESG UCITS ETF

Thanks,