Shariah-compliant KiwiSaver scheme makes good returns for ethical investors

Fri, 10 Oct 2014

By Fiona Rotherham Oct. 10 (BusinessDesk) - The fledgling Amanah KiwiSaver which is based on Islamic Shari’ah investment principles has made a 13.3 percent return for the three months ending Sept. 30. The Auckland-based scheme, set up as the only one of its type in March, aims to make at least a benchmark return of 8 percent per annum through one underlying fund – the Amanah Growth Fund – which invests only in US-listed stocks. Amanah’s result compares to an average 10.3 percent five-year return for growth funds in the latest Morningstar...

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