• Thu. Sep 22nd, 2022

BlueBox Asset Management launches Shariah-compliant technology fund – Business Leader

ByWikafever

Aug 11, 2022

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Issue 37

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Story by
James Cook
August 10, 2022
BlueBox Asset Management has launched a Shariah-compliant version of the successful BlueBox Global Technology Fund.
In 2017, Luis Viveros and Gely Solis, respectively CEO and Head of Investments of BlueBox Wealth Management, partnered with William de Gale, previously the long-time portfolio manager of BlackRock’s World Technology Fund, to launch a continuation of his highly successful investment strategy, focusing on the Direct Connection of technology to the real world.
At BlackRock, William had also been the sole portfolio manager of the firm’s global Islamic equity portfolios for well over a decade, making a Shariah version of the BlueBox Global Technology Fund an obvious next step for the company.
Given their focus on profitable growth, the fund invests in companies with solid financials, positive free cash flow and low debt levels. This approach fits well with Islamic finance standards, making the creation of a Shariah-compliant version of this strategy a simple process.
“For more than a decade I have wanted to create an Islamic global technology fund: the tech sector presents few issues when applying Shariah constraints, and in my experience, Shariah funds tend to perform as well or even slightly better than their conventional equivalents. I am therefore looking forward to bringing our technology strategy to the Islamic market, as it should prove a very exciting product indeed,” commented William de Gale, Lead Portfolio Manager.
Luis Viveros
With a track record now exceeding four years, strong net performance of 17.4% p.a. since launch to July 2022, and first quartile performance in each of the last three calendar years, BlueBox says it is ready to take on this next step.
“BlueBox’s approach to investing in the technology sector makes sense to all portfolio allocators around the world, in particular to investors in the Islamic world where Shariah investment rules actually make a successful strategy even better. We are very excited about launching one of the very few Shariah-compliant tech funds in the world,” concluded Luis Viveros, Managing Director.
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