The Saaf Sukuk Fund acts as a lower volatility building block for multi-asset portfolios or as a diversifier from traditional non-Sharia compliant fixed income asset classes.

As a standalone fund, the Saaf Sukuk Fund is designed to provide income as well as total return.


  • The Fund seeks to achieve this objective by investing, with a total return bias, in a global portfolio of fixed and floating rate Sharia compliant securities (including non-investment grade securities), including Sukuk al-Ijara and Sukuk al-Wakala issued by government, government-related and corporate entities located in developed and developing countries. The Fund can also invest up to 50% of its net assets in short term and money market instruments.

  • The Investment Adviser has flexibility to use all available tools within the mandate to make positive returns with reference to Sukuk and cash benchmark returns and Sukuk benchmark volatility over a rolling 3-year period.

  • USD exposure will be 100% hedged, using Tahawwut contracts, into the respective unit currency for EUR and GBP units.

At a glance