BIMB Investment Management has unveiled the BIMB-ARABESQUE Global Shariah-ESG AI Technology Fund (BGSEAIT), a Shariah compliant equity growth fund that aims to provide investment returns to investors through investment in Shariah compliant global technology equities.
“The COVID-19 pandemic has played a significant role in shifting both consumer and business practices towards better integrating digital technology systems within their respective activities.
“Such a shift has bolstered the performance of the technology sector over the past two years, and we expect it to further sustain growth momentum within the sector for many years to come,” said Mohamed Ridza Mohamed Abdulla, the chairman of BIMB Investment.
Launched on the 30th November 2021, BGSEAIT capitalizes on strong technology market trends using the latest artificial intelligence (AI) research and technology by Arabesque AI, the AI business unit of the Arabesque Group.
The fund provides investors with an additional investment avenue to achieve capital appreciation over the medium to long term. Through BGSEAIT, investors are also able to increase their investment portfolio’s exposure to technology-related stocks.
BGSEAIT will invest a minimum of 70% and up to 98% of its net asset value in listed equities and Shariah compliant equity-related securities in Malaysia and foreign companies where the regulatory authorities are the ordinary or associate members of the International Organization of Securities Commissions and the exchange is a member or affiliate member of the World Federation of Exchanges.
The fund employs a quantitative AI-driven approach that will be rebalanced monthly for both local and foreign securities incorporated within the fund.
BGSEAIT will also leverage Arabesque S-Ray, a quantitative data tool that analyzes and measures the sustainability performance of over 25,000 listed corporations’ quantitative models and data scores.
The transparent rules-based quantitative investment processes driven by AI will also help eliminate human biases and perform analyses at scale. To date, BIMB has launched five funds in partnership with Arabesque Group.
The opinions and viewpoints expressed in the Fund Focus do not constitute as a recommendation for any funds highlighted. The information presented is not investment advice and should not be treated as such.
| Table 1: Fund fact sheet | |
| Name of the fund | BIMB-ARABESQUE Global Shariah-ESG AI Technology Fund |
| Launch date | 30th November 2021 |
| Fund manager | BIMB Investment Management |
| Fund category | Equity (Shariah compliant) |
| Fund domicile | Malaysia |
| Targeted size | N/A |
| Investment objective | The fund aims to provide investment returns to investors through investment in Shariah compliant global equities with a focus on the technology sector. |
| Asset allocation | • 70% to 98% of the fund’s net asset value (NAV) will be investment in Shariah compliant equities, equity-related securities and Islamic collective investment schemes. • 2% to 30% of the fund’s NAV will be invested in Islamic money market instruments and Islamic deposits. |
| Geographical exposure | Global |
| Targeted yield | N/A |
| Investor type | All investors |
| Base currency | US dollar |
| Risk level | N/A |
| Benchmark | MSCI ACWI Information Technology Index |