Description

The Invesco Dow Jones Islamic Global Developed Markets UCITS ETF Acc aims to provide the net total return performance of the Dow Jones Islamic Market Developed Markets Index (the “Reference Index”), less the impact of fees. The Reference Index is designed to reflect the performance of stocks traded in developed-market countries that pass rules-based screens for adherence to Shari’ah investment guidelines. It is constructed by excluding securities that are involved (as defined by the parameters set by the Shari'ah Supervisory Board) in any of the following business activities: alcohol, tobacco, pork-related products, non-Islamic conventional financial services (including, but not limited to, banking and insurance), weapons & defence and entertainment (including, but not limited to, gambling, cinema, music and adult entertainment). Remaining securities are then evaluated according to several financial ratio filters and securities are excluded if they have unacceptable levels of debt or impure interest income. The Reference Index is created by applying a float-adjusted market capitalisation weighting scheme to the remaining eligible securities. It rebalances quarterly. The portfolio managers aim to achieve the fund’s objective by using portfolio modelling tools and techniques to buy and hold a proportion of the securities that represents the characteristics of the entire Reference Index. The objective of this sampling method is to replicate the Reference Index performance as closely as possible while reducing the costs that would normally be incurred with full replication. Investments made by the fund will by compliant with Shari’ah guidelines prescribed by the Index Provider. The Shari’ah committee appointed by the Investment Manager will be responsible for determining compliance of the fund’s investments with Shari’ah. Income and other profits which are accumulated by the fund are not subject to purification prior to being reinvested in respect of those shares. For income purification purposes, investors in this fund may wish to make donations using a dividend-based purging method.This ETF is passively managed. An investment in this fund is an acquisition of units in a passively managed, index tracking fund rather than in the underlying assets owned by the fund.