Shariah Compliant Mutual Fund - Tata Ethical Fund
When its come to Shariah compliant investment, the Indian muslims have limited options despite of 200+ millions population. Ethical Mutual funds are one of the most recommendable Shariah compliant option for long term investment. However this option is also very limited in India. As of now there is only one such fund is available. TATA Ethical Fund was launched on 1996 and it is still approved as Shariah compliant Mutual fund. Few others funds were launched by other AMC however they are no longer certified as Shariah compliant funds. Tata Ethical Fund is an open ended equity fund which invests in a diversified equity portfolio based on principles of Shariah. The investment objective of the scheme is to provide medium to long-term capital gains by investing in Shariah compliant equity and equity-related instruments of well-researched value and growth-oriented companies. Tata Ethical Fund is classified as a Multi Cap Scheme with Shariah Board Certification from Taqwa Advisory and