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Products March 23, 2010
New Shariah-Compliant Fund Available for Retirement Plans
Hand Benefits & Trust, a BPAS company, has announced that the MIZAN Fund, a Shariah-compliant collective investment fund, is now available upon request through Nationwide.
Reported by PLANADVISER Staff
Managed by Lightstone Capital Advisers, the MIZĀN All Equity Moderate Allocation Fund is designed to meet the needs of Muslim investors within their qualified retirement plan, according to an announcement. The fund seeks long term capital appreciation, consistent with Islamic investment principles, by holding a portfolio of U.S. stocks across seven equity styles.
The fund seeks to outperform the Russell 3000 Index over a three to five-year time period.
More information on the MIZAN Fund is available at www.MIZANFunds.com. Clients using the Nationwide platform can request the fund by contacting their plan services provider.