Meridio AG chooses IdealRatings for global Islamic fund screening
SAN FRANCISCO, COLOGNE, MARCH 9, 2010: To respond to increasing demand for ethical, sustainable investments & high economic power of the Muslim community in Germany and Europe at large,
Meridio AG, a leading private wealth management in Germany, is launching the “Meridio Global Islamic Multi Asset Fund”, an actively managed fund following the AAOIFI rule book and the fund’s ethics committee, with an international country focus. The fund will be investing in equity markets in Europe, USA, Japan, China, Indonesia, Malaysia, MENA, Turkey, and North Africa.
IdealRatings, Inc. is proud to be the Shariah screening provider for Meridio AG, and the fund management company Axxion S.A.
“We surveyed the Shariah compliance market extensively to find a provider with global coverage and a screening methodology that can accurately deliver a compliant universe according to our rule book, and we’re happy to have found IdealRatings, they research a very large number of equities meticulously and yet delivered a compliant universe according to our rule book immediately” said founder and CEO UWE Zimmer, “it’s usually very difficult to find the high quality we look for and maintain a very short time to market simultaneously”.
“We congratulate Meridio on its launch of this unique fund and its European focus, and we’re very excited to be the Shariah screening partner for such a reputable team” said Mohamed Donia, CEO of IdealRatings, Inc.