AUSTRALIA: Crescent Funds Management (Australia) will begin accepting applications for its Shariah compliant Crescent Australia Equity Fund starting from the 1st July.
The fund will invest in Shariah compliant securities listed on the Australian Securities Exchange and aims to provide capital growth over a three to five year period.
According to its fact sheet: “Sectors such as industrial services, basic materials, resources and retail companies will be targeted. However, other sectors will also be considered to generate sustainable returns on invested capital.”