As of Wednesday, Hejaz Financial Services’ Global Ethical Fund is available on HUB24, becoming the first ever Islamic superannuation product to be available on both HUB24’s IDPS and Super investment menus.
Through Hejaz’s Global Ethical Fund, advisers will be able to connect customers with an ultra-ethical product that has returned an average of 12.10 per cent p.a. gross over the last three years.
“Our vision is to provide world-leading financial products to Australian Muslims to help them grow their wealth in a way that doesn’t compromise their faith. Because many lack access to Islamic finance products, or are completely unaware of them, making the fund available on HUB24 is a major step towards giving Australian Muslims the tools to suitably manage their wealth.” said Muzzammil Dhedhy, COO at Hejaz Financial Services.
Recent research from Hejaz found that 36 per cent of Australian Muslims store considerable cash savings at home due to a lack of financial products that fit with their faith. This large addressable market is compounded by broad consumer demand for ethical investment products.
“Accessing Hejaz’s Global Ethical Fund via HUB24 enables advisers to better serve a community of 1.2 million people who are traditionally great savers and will be looking to access a range of services, from superannuation to personal or commercial property purchases,” Mr Dhedhy said.
Hejaz Finance has around 6,500 customers directly or through intermediaries, with 400 accredited mortgage brokers.
WOW! I didn’t even know such a market existed here in Australia. Well done to Hub24 for seeing the opportunity.