SEI Shariah investment solution launches on Allfunds platform

The agreement brings together SEI's Shariah asset management capabilities and Allfunds' platform and intermediary services to give banks, wealth managers, and insurance providers the opportunity to access world-class Shariah-compliant funds and deliver more efficient and diversified investment choices to their clients.

Launched in May 2007, the SEI Islamic Investment Funds provide investors with a Shariah-compliant program of four global equity funds with oversight from HSBC Amanah's Shariah Committee. These funds include the SEI Islamic US Equity, SEI Islamic Pacific Basin Equity, SEI Islamic European Equity, and SEI Islamic Emerging Markets Equity Funds. The Funds use SEI's Manager-of-Managers process to select, combine, and monitor some of the world's leading investment managers. The SEI Islamic Investment Funds are domiciled in Dublin and offer daily liquidity.

Commenting, Jahangir Aka, Senior Executive Officer, SEI Middle East said, "We are pleased to offer the SEI Islamic Investment Funds through the Allfunds platform to enable wealth management providers to present a broader range of investment choices to their Shariah clients. Diversification remains important for the Shariah investor and the SEI Islamic Investment Funds are designed to provide global equity exposure to a Shariah portfolio."