Acorn Property Invest is set to launch a Shariah-compliant product targeting returns of between five per cent and 9.5 per cent per annum.
The property investment platform will initially launch Shariah-compliant one, three and five-year redeemable shares as part of its Acorn Green product range.
In a recent blog post on its website, Acorn noted the similarities between ethical investing and Shariah-compliant investing, and said that it was working with Amanah Advisors to launch new Shariah-compliant opportunities.
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“The growth in recent years of socially responsible, or ethical investing, has seen an increase in the number of investment opportunities that comply with Shariah principles in the broadest sense,” read the Acorn blog.
“There is a great deal of overlap between the two, with a strong focus on societal good, environmental stewardship and corporate governance.
“At Acorn, our underlying principles focus on sustainability and creating homes that will benefit their local communities for generations to come. Our ethical and Shariah-compliant investment opportunities, in partnership with Amanah Advisors, are launching soon.”
Melanie Omirou, group managing director and funding director at Acorn Property Group, told Peer2Peer Finance News that she hopes to launch the Shariah-compliant product by the end of this month.
“We’re working with a team at the moment to launch the product,” said Omirou. “We think it will be a very attractive investment.”