Azimut Global Sukuk Fund (Dist.)(LU1475577877)
- Fixed income
- Global
- SGD Cash
- Distributing
Invests in a diversified portfolio of Shariah-compliant debt securities (Sukuk) issued by governments, supranational institutions, governmental bodies, and companies; suitable for Muslim clients who wish to replicate Shariah-compliant fixed income exposures in their investment portfolio. Primarily targets issuers in emerging markets in the Middle East and Asia, focusing on investment-grade securities with a minimum rating of BB+. The fund maintains a short to medium-term duration of 2-4 years and is hard currency-focused (USD). Incepted in October 2013 and has grown to manage over USD 1 billion in assets.
Managed by co-portfolio managers Charles Feghali and Faisal Ali, both based in Dubai. They are supported by two credit analysts in Dubai and additional research teams in Turkey and Asia (via Maybank as an external advisor). Leverages the extensive research capabilities of Azimut, which has a global presence with over 100 portfolio managers and a dedicated fixed income team.
Delivered steady, long-term compounded returns with controlled downside risk, demonstrating favourable risk-adjusted returns compared to peers. Low correlation to broader fixed income markets, making it an attractive diversifier even for non-Muslim investors. Employs a conservative approach, focusing on credit selection and maintaining a defensive duration strategy.
Investors, particularly Muslim investors, who are looking to invest in Shariah-compliant assets may find this Fund attractive. The Fund offers a good alternative to the traditional Fixed Income allocation, serving as a core allocation providing exposure to the Sukuk market with a focus on quality and diversification.
Investors should be mindful that the Sukuk universe is still growing and remains significantly smaller and more concentrated (geographically and sectorly) than the overall Fixed Income universe.
| Year | Total | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
| 2026 | - | -1.2% | 0.7% | -1.7% | 1.1% | 0.5% | 1.8% | -1.9% | 0.2% | - | - | - | - |
| 2025 | 1.3% | -0.0% | 0.7% | 0.1% | -2.6% | -1.1% | -0.4% | 2.5% | -0.2% | 1.4% | 1.7% | -0.4% | -0.5% |
| 2024 | 8.0% | 1.3% | 0.8% | 1.1% | 0.1% | 0.2% | 0.8% | 0.0% | -1.0% | -0.5% | 2.2% | 1.9% | 0.9% |
| 2023 | 3.6% | -0.4% | 1.7% | -0.7% | 0.8% | 1.5% | 0.0% | -1.4% | 1.6% | 0.3% | -0.4% | -0.3% | 0.9% |
| 2022 | -6.0% | -0.8% | -0.4% | -1.6% | 0.8% | -1.2% | 0.7% | -0.5% | 1.5% | 0.4% | -2.5% | -1.0% | -1.5% |
| Load more | 5 of 10 | ||||||||||||
| SA Global Sukuk Ltd. 4.625% (2035-09-17 Maturity) | 5.48% |
| Saudi Electricity Sukuk Programme Co. 5.684% (2053-04-11 Maturity) | 3.86% |
| TPAO Varlik Kiralama AS 6.3% (2031-03-04 Maturity) | 3.23% |
| Aldar Investment Properties Sukuk Ltd. 5.25% (2035-03-25 Maturity) | 3.19% |
| Maaden Sukuk Ltd. 5.25% (2036-01-29 Maturity) | 3.05% |
| AerCap Sukuk Ltd. 4.5% (2029-10-03 Maturity) | 2.88% |
| Al Rajhi Tier 1 Sukuk Ltd. 6.25% | 2.78% |
| DP World Crescent LTD 5.5% (2033-09-13 Maturity) | 2.68% |
| Saudi Electricity Sukuk Programme Co. 5.489% (2035-02-18 Maturity) | 2.35% |
| Boubyan Tier 1 Sukuk Limited 3.95% | 2.13% |
| SUCI Second Investment Co. 6.25% (2033-10-25 Maturity) | 1.95% |
| Riyad Sukuk Limited 6.209% (2035-07-14 Maturity) | 1.93% |
| Alinma Sukuk Ltd. 5.792% (2035-11-10 Maturity) | 1.91% |
| MAF Sukuk Ltd. 4.875% (2035-10-22 Maturity) | 1.88% |
| SRC Sukuk Ltd. 4.875% (2035-10-02 Maturity) | 1.76% |
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