Accolade: Finalist in 17th International Fund & Product Awards

Edale has been named as a finalist in a highly regarded international awards program for an award that recognizes service above and beyond that of normal business. The International Fund and Product Awards, now in its seventeenth edition, aims to find excellence in the international wealth and financial advisory market. The Best International Practice award is for firms that have service levels that go above and beyond the norm. The awards are in honour and recognition of groups who distribute financial products and services internationally.

Among Edale in the shortlist are:

  • Old Mutual International, Future Fit – Old Mutual International
  • Intelligent Investments Ltd / PortfolioMetrix – Intelligent Investments Ltd
  • Atlas Wealth Management – Atlas Wealth Management

The winners will be announced on October 12th at the Four Season Hotel, Park Lane, London.

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Edale to join growth accelerator Aug 2016

Edale recently completed competitive interviews and has won a place to join a growth accelerator to help us nurture international growth and sustainable development in our existing markets. We thought it worthwhile to write how we feel we shall benefit from this as a business, improve our client service and grow into new markets.

We have lots of ideas and shall boil these down to a few nuggets in the coming months.

What is a growth accelerator? They help a business get to the heart of the barriers that are holding business back and work alongside executives to identify the critical steps needed to achieve the next phase of growth – rapidly and sustainably. An accelerator provides services to support a business to grow including advice to build a successful growth strategy, discover new routes to funding and investment, unlocking the business leaders capacity for innovation and harnessing the power of employees.

Our vision, which we can enhance and develop with the support of the accelerator, is to grow an international financial services business across 10-15 markets delivering high quality investment products to clients with unmet needs.

We have always been passionate about our clients and products, though advice and mentoring can give a guiding hand and new mindset to do things differently and better.

The business’s focus has been to build quality financial products in unserved markets or improve existing markets that show deficiencies. The steady growth of the business has been achieved by solving clients’ problems in an easily accessible way and a focus on being outwardly facing.
Through the accelerator we shall gain access to financial support, premises with fellow growth businesses, mentoring and access to networks. With the accelerator backed by a big four accounting firm and major high street UK bank we foresee “big business advice” in our day-to-day operation.
This is a great resource we feel will improve our entrepreneurial mindset and business execution for the benefit of clients, stakeholders and shareholders.

The six-month incubation starting in August 2016 and potential for further twelve month nesting are amongst a wide range of services we shall be looking to access and support the business’s growth and deliver our vision. We look forward to an exciting few months ahead and valuable time within the accelerator.

MFEX adds Salam Pax to Fund Platform

Edale’s Luxembourg-domiciled Sicav fund range is now available through MFEX Mutual Fund Exchange AB. This will apply in all countries where the Sicav is registered for public distribution and MFEX’s clients operate. This agreement widens Salam Pax SICAV distribution network in Europe and Asia.

MFEX is an independent fund marketplace offering financial institutions an automated, secure and cost efficient solution for trading mutual funds as well as calculating and recovering rebates on trail fees. 700+ fund companies from 40 legal domiciles worldwide make their funds available via MFEX.

Edale advises ethical and morally responsible investment funds, under the brand Salam Pax. The risk graded building block funds appeal to investors seeking funds that match their religious beliefs and are certified sharia compliant. The global bond and multi-asset funds offer clients’ a halal savings solutions whether they live in Europe, Middle East or Asia.

Salam Pax fund range now available via Calastone order routing

Salam Pax funds can now be transacted via Calastone’s international order routing network that will support Salam’s cross-border and international activities.

The Salam Pax fund range is the first Shariah-compliant fund suite available as risk-profiled products and is recognized an early mover by making this Islamic fund range available as an RDR-compliant ‘unbundled’ fund share class. The group has investors across Europe and a growing international investor base in both retail and wholesale markets.

Lawrie Chandler, Director of Salam Pax added, “Calastone helps to optimize our UK fund dealing and simplify our growing European cross-border distribution. We have great ambition for further growth and have every confidence that by automating our processing and back office capabilities this will help us achieve the benefits of scale on a domestic, regional and international basis.”

Calastone’s ambition is to connect fund providers, managers, distributors, platforms, custodians and fund administrators. Irrespective of firms’ size or location, it seeks to enable the industry to interoperate, reap the full potential of automation, benefit from straight-through processing, and reduce cost and risk by taking full advantage of the efficiencies that automated transaction processing can offer.

Commenting on the introduction of Salam Pax to the network, Isabell de Wit, Associate Director said, “We welcome, support and seek to play a part in driving greater innovation, distribution and efficiency right across the investment lifecycle. We applaud Salam Pax’s early recognition that by making the fund range available as an RDR-compliance share class this would offer distribution opportunities and potential to reach investors all over the world. Many of the largest distribution platforms are connected to our global network and we look forward to playing a role in helping this fund become successful by providing interoperation, automation and access to a wide range of connected investment parties.”

SwissLife expands family takaful investment options with Sukuk Fund

Swiss Life launched its newest investment-linked fund, in partnership with Salam Pax Funds, called Serenity Sukuk; an Islamic investment fund that aims to achieve consistent total growth over the medium to long term.

Swiss Life Insurance and Heritage believes the partnership will enable SwissLife to strengthen its partnership with insurance advisers and reinforce the product proposition of its investment-linked Takaful plan, Salam Epargne & Placement. Swiss Life launched in 2012 what is believed to be Europe’s first family takaful product for local residents, primarily aimed at French customers looking for Islamic finance or ethical investment solutions. There are now three takaful savings plans available in France.

Corporate Social Responsibility Accolade

Edale Group working with Salam Pax is a finalist in Corporate Social Responsibility Category of the Investment Marketing and Innovation Awards. This category recognises companies who have successfully innovated in making ethical principles part of their products or funds appeal to private or professional investors.

The Awards celebrate all that is fresh, new and relevant in investments. The Award’s categories cover both marketing and proposition development and are designed to recognise and reward innovation within the sector.

Salam Pax Sukuk Fund registered in France and UK

Salam Pax SICAV announced today the registration in France and the UK of the Serenity Sukuk Sub-Fund. The general public are now able to invest in both the Ethical Funds of Funds and Serenity Sukuk Funds. Salam Pax’s success in building the Ethical Fund of Funds investor base and robust returns has supported the business to strengthen the range of funds and open them to the general public. Salam Pax now comprises two risk profiled strategies that can be blended to match most investors’ risk appetite. The new registrations widen Salam Pax distribution footprint in the European institutional and wholesale markets allowing the fund to accept investments from an broader investor base. Continue reading

LHV change in the domicile of the fund

LHV Persian Gulf Fund has due to its uniqueness been popular among foreign investors. In order to improve the accessibility of LHV Persian Gulf Fund for foreign investors, the new domicile of the fund is going to be Luxembourg.

The re-domiciliation shall be carried out through a cross-border merger in which LHV Persian Gulf Fund participates as the merging fund and SEF-LHV Persian Gulf Fund (SICAV, UCITS) as the receiving fund. Prior to the merger, the receiving fund is an empty shell, i.e. it has no investors, assets nor liabilities. After the merger, the unit-holders of LHV Persian Gulf Fund are going to become shareholders of SEF-LHV Persian Gulf Fund.

The re-domiciliation is not going to have any material impact on the current investors. The fund shall continue to invest into the GCC region based on the current strategy. AS LHV Varahaldus as well as the fund manager Joel Kukemelk, will remain responsible for the investment management of the portfolio of the fund. Pursuant to the Estonian Income Tax Law, the redemption of units and the issue of shares in the course of a merger is not deemed to be a receipt of income. No action is required in relation to the merger by the clients who wish to remain investors to the fund.

The domicile of the fund is going to change through merger on April 13, when in the course of a corporate action the class A and class B units of LHV Persian Gulf Fund are redeemed and SEF-LHV Persian Gulf Fund shares are issued to the investors. For every class A unit, a share is issued; in case of class B units, the number of shares to be issued are determined on the basis of the following formula: number of class B units x class B unit net asset value / class A unit net asset value. SEF is a SICAV (société d’investissement à capital variable – investment company with variable capital) which has appointed Swedbank Management Company S.A., an entity part of the Swedbank Group, as its management company.

Investors who prefer not to keep investing into the GCC region through the Luxembourg domiciled fund, have the opportunity to exit the fund free of charge from February 26 to April 01.

In order to evaluate the effects of the merger and to make an informed decision on whether to participate in the Merger or not, we advise the unit holders to familiarize themselves with the following documents:
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