The Mackenzie Shariah Global Equity Fund is a Canadian mutual fund with inception in February 2024. The universe is the Dow Jones Islamic Market World Index. Shariah supervision is Ratings Intelligence. Series A: 1.95% management fee and 2.65% MER. Series F: 0.80% management fee and 1.12% MER. Minimum investment is $500. It is sold in all 10 provinces, through advisors. It is not a Manzil product. This page does not invent AUM.
Compare cost and structure to MNZL at 0.40% and to Global Iman Fund at 2.79% MER, $244 million AUM as of the April 30, 2026 Fund Facts, 23 holdings, Dow Jones Islamic Titans 100 universe, $500 minimum. Start on the investing hub, the Manzil provider page, and Manzil Russell Halal USA ETF (MNZL).
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What You Are Buying
This is an advisor-sold mutual fund, not a DIY ETF you click in a discount brokerage app. Series A is the advisor series. Series F is the fee-based series. The Shariah overlay is the Dow Jones Islamic Market World Index universe plus Ratings Intelligence as the Shariah supervisory board. Confirm the current Fund Facts before you treat any MER as permanent.
| Fact | Mackenzie Shariah Global Equity Fund | MNZL | Global Iman Fund |
|---|---|---|---|
| Vehicle | Mutual fund, sold via advisors | ETF (see the MNZL article) | Mutual fund |
| Inception / snapshot | February 2024 | See the MNZL article | April 30, 2026 Fund Facts for the AUM figure below |
| Universe / index | Dow Jones Islamic Market World Index | See the MNZL article | Dow Jones Islamic Titans 100 |
| Oversight named here | Ratings Intelligence SSB | Manzil product. Not this fund | Not restated here beyond Fund Facts holdings |
| Ongoing cost named here | Series A 1.95% mgmt / 2.65% MER. Series F 0.80% / 1.12% MER | 0.40% | 2.79% MER |
| Minimum | $500 | Brokerage minimum for the ETF | $500 |
| Holdings / AUM named here | AUM not published on this page | See the MNZL article | 23 holdings. $244 million AUM (April 30, 2026 Fund Facts) |
| Where sold | All 10 provinces, via advisors | Canadian listed ETF path | Fund product; confirm the dealer |
How It Compares on Cost
Series F at 1.12% MER is cheaper than Series A at 2.65% MER and cheaper than Global Iman's 2.79% MER. It is still several times MNZL's 0.40%. Cost is not a fatwa. A lower MER does not make an unscreened fund halal, and a higher MER does not make this fund haram. Use the screen and the board, then look at cost.
Mackenzie is not Manzil. Do not buy this fund because you already have a Manzil mortgage or a Manzil RRSP. If you want the Manzil-linked US equity ETF, read MNZL and open it through a brokerage, not through this Mackenzie series.
Who It Fits
- You already work with a Canadian advisor who can place Mackenzie Series A or F
- You want a global Islamic equity mandate tied to the Dow Jones Islamic Market World Index
- You can live with mutual-fund MERs instead of an ETF's 0.40%
- Skip it if you only want a self-directed ticker, or if you thought this was a Manzil fund
Frequently Asked Questions
Is the Mackenzie Shariah Global Equity Fund halal?
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It is a Shariah-labelled fund on the Dow Jones Islamic Market World Index universe with Ratings Intelligence as SSB. Read the current Fund Facts and the screening notes. This page does not issue a personal fatwa.
Is this a Manzil product?
No. It is a Mackenzie fund sold through advisors. Manzil is a separate Canadian Islamic finance platform. Link: Manzil.
What is the MER?
Series A: 1.95% management fee and 2.65% MER. Series F: 0.80% management fee and 1.12% MER. Compare those figures to MNZL at 0.40% and Global Iman at 2.79% MER.
Can I buy it in every province?
It is sold in all 10 provinces via advisors. That is not the same as clicking buy in every discount brokerage. Ask the advisor whether they can place Series A or Series F for your account type. Minimum is $500.
Bottom Line
Compare providers in your state
See side-by-side comparisons of Shariah-compliant products, or let our matcher recommend the best options for your situation.
Use Mackenzie Shariah Global Equity Fund if an advisor is placing a global Islamic equity mutual fund and you accept the Series A or F MER. Use MNZL if you want the 0.40% ETF path. Do not confuse either with Global Iman. Compare on the investing hub.
