If you’re looking for a way to invest your money in US dollars while adhering to Islamic principles of ethical and socially responsible investing, the Etica Special Shariah Fund USD offers an excellent opportunity. Managed by Etica Capital Limited (ECL), this fund allows investors to grow their wealth while staying true to their ethical values. With a minimum investment of just USD 100, the fund provides access to a diversified portfolio of Shariah-compliant investments, offering both regular income and capital protection. Let’s explore how this fund works and how you can get started.
Etica Special Shariah Fund USD Overview
The Etica Special Shariah Fund USD is designed for investors who seek low-risk, moderate-return opportunities in US dollars while ensuring their investments align with Islamic principles. The fund invests in a broad range of Shariah-compliant securities, including government bonds, corporate instruments, and other eligible assets that conform to Islamic law. With oversight from regulatory bodies like the Capital Markets Authority (CMA), your investments are managed securely and ethically.
This fund is perfect for those looking to diversify their portfolios, especially in USD assets, to mitigate risks associated with local currency fluctuations while adhering to ethical guidelines.
Key Features
- Minimum Investment: Start with USD 100, making it accessible for individuals looking to enter the investment world.
- Minimum Top-Up: Additional investments can be made from USD 50, allowing for flexible growth over time.
- Risk Profile: Moderate risk profile, balancing the potential for growth with the need to protect capital.
- Initial Lock-in Period: The fund has an initial 30-day lock-in period, ensuring investments are held long enough to generate returns.
- Benchmark: The fund’s performance is benchmarked against the average Shariah-compliant 3-month USD deposit rate + 2% p.a., providing attractive returns compared to standard USD deposits.
- Management Fee: The fund charges a management fee of 2.0% per annum, which is competitive for a diversified, ethical investment fund.
Benefits of Etica Special Shariah Fund USD
- Ethical and Socially Responsible Investing: The fund is designed to meet the needs of Islamic investors by ensuring that all investments comply with Shariah law. This means no involvement in industries like alcohol, gambling, or usury, and a focus on socially beneficial projects.
- Capital Protection: The moderate-risk strategy aims to safeguard your capital while providing a stable return over time.
- Diversification in USD: By investing in USD-denominated assets, you can reduce the risk of local currency fluctuations and further diversify your portfolio. This helps protect your investments from currency volatility in Kenya or other local markets.
- Regular Income Potential: The fund aims to provide regular income, making it ideal for investors seeking steady returns. This income is earned through interest or profits from Shariah-compliant investments like bonds and equities.
- CMA and Trustee Oversight: The fund is regulated by the Capital Markets Authority (CMA) and is subject to trustee oversight by Co-operative Bank and a custodian partnership with Equity Bank, ensuring strong governance and transparency.
How to Access Etica Special Shariah Fund USD
Investors can access the Etica Special Shariah Fund USD through multiple platforms, providing flexibility and convenience for both tech-savvy and traditional investors:
- Etica Mobile App: Available for both iOS and Android users, the mobile app offers a seamless, user-friendly interface to manage investments and track performance.
- Web Portal: Investors can also access and monitor their investment via the Etica Capital website at www.eticacap.com.
- Manual/Physical Application Form: For those who prefer traditional methods, Etica offers physical application forms that can be filled out and submitted.
KYC Requirements for Etica Special Shariah Fund USD Accounts
To comply with regulatory standards, Etica requires investors to submit Know Your Customer (KYC) documents based on the account type. Here’s a list of required documents:
Individual/Joint Accounts:
- A copy of your National ID or Passport.
- A recent coloured passport photo.
- Tax certificate or equivalent.
Minor Accounts:
- Parent/guardian ID and photo.
- Birth certificate of the minor.
- Parent/guardian tax certificate.
Sole Proprietorship:
- Business registration certificate.
- Proprietor ID and photo.
- Tax certificate.
Self-Help Groups/Welfare Societies:
- IDs and photos of each signatory.
- Committee resolution approving account opening.
- Approved signatories list and constitution.
- Registration certificate.
Partnerships:
- Partner IDs and photos.
- Partnership agreement/deed.
- Written approval from partners.
- Registration certificate.
Corporate/Institutional Accounts:
- Director IDs and photos.
- Memorandum & Articles of Association.
- Board resolution approving account opening.
- Registration certificate & CR12 of ultimate beneficial owners.
How to Apply and Fund Your Etica Special Shariah Fund USD Account
Step 1: Open an Account
To start investing, you can register through the Etica App, the web portal, or a manual application form. The registration process is straightforward, allowing investors to get started quickly.
Step 2: Submit KYC Documents
Once registered, you will need to submit your KYC documents based on the type of account you’re opening. This ensures that all investments comply with regulatory requirements.
Step 3: Fund Your Account
After your account is set up, you can fund it via several methods:
- Bank Transfer (USD Account):
- Account Name: Etica Unit Trust Collection Account – USD
- Account Number: 0180285106666 (USD)
- Bank: Equity Bank Kenya, Community Supreme Branch, Code 018
- M-PESA:
- Paybill Number: 4096483
- Account Number: Your member number
- Pesalink:
- Deposit USD via your bank’s app or USSD; the funds will reflect instantly in your Etica account.
- Equity Bank Channels:
- Use *USSD 247# or visit Equity Bank branches using Biller Number 919292.
Once your account is funded, your investment will be visible immediately in the Etica App and the web portal.
Contact Details
- Phone: +254 769 999 666 / +254 111 055 650
- Email: [email protected]
- Office: Allamano Centre, Consolata Shrine, Westlands, Nairobi, Kenya
- Website: www.eticacap.com
Key Takeaways
- Start with USD 100: The Etica Special Shariah Fund USD allows you to begin investing with a relatively small amount, making it accessible to a broad range of investors.
- Ethical Investing: This fund is designed for Islamic investors, ensuring all investments comply with Shariah principles.
- Moderate Risk, Regular Income: The fund offers moderate-risk investments with the potential for steady returns through a diversified portfolio.
- Flexible Access: Fund your investment and track your performance using the Etica App, web portal, or traditional methods, with easy funding options like M-PESA, bank transfers, and Pesalink.
- Regulated and Secure: With CMA regulation and trustee oversight, the Etica Special Shariah Fund USD offers secure, ethical investment opportunities for those seeking capital protection and growth.
For investors looking to adhere to Islamic values while growing their wealth in US dollars, the Etica Special Shariah Fund USD is a solid and reliable choice. With ethical investments, moderate risk, and the opportunity for regular income, it offers a transparent, secure path to achieving your financial goals.
