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Malaysia's i-VCAP launches first regional Islamic ETF
[KUALA LUMPUR] Malaysia's i-VCAP Management Sdn Bhd on Wednesday launched its first regional Islamic exchange-traded fund (ETF) to include stocks from the Southeast Asia region.
The fund, MyETF MSCI SEA Islamic Dividend, is open to investors and will be listed on May 7, the company said in a statement.
It will include Sharia-compliant stocks from Malaysia, Singapore, Indonesia, Thailand and the Philippines.
i-VCAP Management, partly owned by sovereign wealth fund Khazanah Nasional, has two ETFs, taking Malaysia's total to six.
ETFs are funds which track indexes of shares, bonds or commodities and are traded on stock exchanges. Their sharia-compliant versions follow religious principles such as bans on interest and gambling.
I-VCAP is a subsidiary of Valuecap Sdn Bhd, owned equally by Malaysian state investor Khazanah, asset manager Permodalan Nasional Bhd and civil service pension fund Kumpulan Wang Persaraan.