The one-year returns of these funds showed that Shariah BeES gained 1.5% against 0.9% recorded by S&P CNX Nifty Shariah, while Taurus Ethical Fund gained 5.04% as compared to S&P CNX 500 Shariah’s gain of 2.35%. The two-year period saw Shariah BeES gain 11.97% (11.06% by S&P CNX Nifty Shariah) and Taurus Ethical Fund gain 45.90% (20.78% by S&P CNX 500 Shariah).
“Ethical investing is yet to pick up in India. Investors who are currently locking their money in these schemes are the ones who want to make money the ethical way as well as those who don’t want to invest in a plain vanilla diversified fund. A longer term out-performance will attract more investors,” said Waqar Naqvi, CEO of Taurus Mutual Fund.