The Malaysian arm of US-based Saturna Capital is working on expanding its digital product suite to include Islamic ESG funds, IFN Fintech has learned.
Saturna confirmed that it is currently seeking approval from the Securities Commission Malaysia to offer Islamic ESG funds on its new online platform. It also expects to add its Global Sustainable Fund in the next quarter with the prospect of adding a new money market fund before the end of this year.
The firm currently manages two Islamic equity trust funds in Malaysia – the ICD Global Sustainable Fund and the ASEAN Equity Fund.
The new pipeline builds upon Saturna’s stronger focus on digitalization and sustainability.
“We see ESG measures as complementary to Shariah compliant initiatives, as they are both driven by sustainability considerations, mitigate volatile risk-taking, and value long-term growth,” Shahariah Shaharudin, the president of Saturna, said during the launch of the firm’s digital platform. “I believe the events of the past few years, from the 2008 financial crisis to the COVID-19 pandemic, have inspired a paradigm shift in the way we view investing and increased the appetite for socially conscious metrics.
Saturna’s online web platform was unveiled earlier this month after a year of designing and development. The company intends to bring to market a mobile app.
“In today’s Islamic digital economy, asset management services are easily accessible digitally, and are available on websites. However, not a lot of options are mobile enabled. Hence, we would be working on our mobile app next to help ease the process and accessibility for our users,” the firm told IFN Fintech.