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.
Expansion in France and UK
Salam Pax, domiciled in the centre of Europe in Luxembourg, is building an international business for investors seeking ethical and sharia compliant mutual funds. France and the UK are important markets for the group and the registrations are part of expansion plans to open the funds to a wider public. Investment professional have invested in the funds so far and registrations with the Financial Conduct Authority (FCA) in the UK and L’Autorité des marchés financiers (AMF) in France allows existing wholesale investors to offer their private clients Salam Pax Funds.
Institutional demand for segregated mandates
Alongside the funds Salam Pax is increasing receiving requests from Islamic financial institutions and wealth advisers for professional investment guidance to invest their capital. The group is now offering segregated and advisory mandates to institutional clients based on customised goals and objectives. Record low yields on Sukuk, a changing credit rating landscape and global imbalance means investment decisions can not always be made in-house so external expertise is increasingly tasked to assist. Salam Pax success in wholesale markets is supporting requests for institutional mandates from clients.