| Focus and Objective |
Another NewFunds innovative offering, South Africa's first Shari'ah compliant Equity Exchange Traded Fund (ETF). The NewFunds Shari'ah Top 40 Index ETF tracks the Shari'ah Top 40 index jointly established by London's FTSE International Limited (FTSE) and Johannesburg's JSE Limited (JSE).
This FTSE/JSE Shari'ah Top 40 Index is designed to reflect the Shari'ah compliant companies identified from the FTSE/JSE Africa Top 40 index by Yasaar Limited (Yasaar), which provides independent Shari'ah compliance solutions in terms of stringent Shari'ah standards and principles. The Shari'ah ETF has been certified Shari'ah compliant by Absa Bank's Shari'ah Board.
NewFunds Shari'ah ETF is structured as a portfolio within NewFunds CIS, an FSB approved Collective Investment Scheme, and listed on the JSE Limited. The Shari'ah ETF is a cost efficient, transparent, and easy-to-access investment product that conforms to the principles of Shari'ah Law.
This product is long overdue in a South African market that urgently needs more local Islamic investment products to service the estimated 350 000 to 400 000 Muslim households in South Africa.
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| |
Top Holdings on 30 Jun 2010 |
| Share |
No Units |
Value (Rm) |
% of Fund |
| BHPBILL |
41 458 |
8.33 |
27.17% |
| ANGLO |
24 953 |
6.71 |
21.90% |
| MTN GROUP |
34 379 |
3.47 |
11.33% |
| SASOL |
11 833 |
3.25 |
10.60% |
| ANGGOLD |
6 730 |
2.23 |
7.29% |
| Totals |
|
24.00 |
78.30% |
| |
Comparative Performance |
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| |
| Portfolio Structure as at 30 Jun 2010 |
| Click here for complete portfolio for this fund. |
| |
| Dividend Data |
| Click here for Dividend History for this fund. |
| |
| Fees and Charges |
| Click here for fees and charges for this fund. |
| |
| Sectoral Information |
| Click here for Sectoral Information for this fund. |
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