Mackenzie Investments Mackenzie Shariah Global Equity Fund

Halal Investing in Newfoundland and Labrador

The Mackenzie Shariah Global Equity Fund (inception February 2024) packages actively managed halal global equity in the mutual fund format Canadian advisors already use. Mackenzie's Global Quantitative Equity Team, led by Arup Datta, selects from companies pre-approved for the Dow Jones Islamic Market World Index, with Ratings Intelligence's Shariah advisory board issuing the fatwa, auditing semi-annually, and supporting an annually published purification ratio. Series A carries a 1.95% management fee and 2.65% MER; fee-based Series F runs 0.80% and 1.12%. Minimum investment is $500.

Mackenzie's Shariah Global Equity Fund packages worldwide halal equity exposure in the conventional mutual fund format Canadian advisors already use, and its compliance chain is real: constituents come pre-screened from the Dow Jones Islamic Market World Index, Ratings Intelligence issues the fatwa and audits semi-annually, and Mackenzie publishes a purification ratio annually. The costs split sharply by series - commission-based Series A runs a 2.65% MER while fee-based Series F costs 1.12%, so the access channel determines whether this is reasonable or expensive. The fund is young (February 2024) and small (about $32M at its March 2025 fiscal year-end). Best for Canadians investing through a traditional advisor who want a certified Shariah-screened option inside that relationship - ideally in a fee-based series.