The Halal portfolios may consist of the Manzil Mortgage fund and the Wahed FTSE USA Shariah ETF.
Manzil Mortgage Fund:
- Although it is called a fund, it is not classified as a mutual fund by securities regulators and is exempt from regulation
- Manzil selected these investments for their asset classes and compliance with Sharia law
- CI Direct Investing does not compensate Manzil in any way. Manzil earns a management fee of 1.5% from the fund
- We require two months advance notice to withdraw funds, and it may take up to 6 months for that withdrawal to arrive in your bank account.
- For withdrawals over $20,000, it could take 12 months to fund a redemption.
Wahed FTSE USA Shariah ETF:
- This ETF provides passive index exposure to US Shariah-compliant stocks
- MER of 0.50% (what’s this?)