Tel: 01254 222 700
Email: info@redroseassurance.co.uk
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01254 222 700
info@redroseassurance.co.uk
Our Shariah Junior ISA gives you a way to invest, compliant with your Shariah beliefs.
Example based on an initial investment of £10,000 on 1st July 2020:
Please note: This is a risk investment. Past performance is no guide to future returns. You could get back less than you invested.
The following graph shows the unit price of the Shariah Junior ISA since launch in February 2019.
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Pay in regularly using direct debit with a minimum of just £10pm
Change the amount or stop paying at any time
Pay in occasional lump sums via BACS or cheque
Transfer a Junior ISA from other providers to us
Transfer our Junior ISA to another provider
Invest in our stocks and shares Shariah Junior ISA in addition to your Junior Cash ISA each year
The Junior ISA helps build up a lump sum that becomes available when the child is 18
Our ISA provides a tax free return when you cash in, or transfer to another provider
An investment fund which meets all of the requirements of Shariah law and the principles of Islamic Finance. The Fund will only invest in Shariah-compliant companies and approved financial instruments.
The Fund is overseen by an independent Shariah Committee that is responsible for:
Agreeing the investment objectives and policies
Advising the fund managers regarding compliance with Shariah principles
Establishing the principles for calculating an appropriate percentage of ‘non Halal’ income and approving suitable charities to receive it
The Fund is managed by a specialist team at HSBC. The HSBC Islamic Global Equity Index Fund invests in diverse areas including Technology, Health Care, Consumer Goods, Industrials, Oil and Gas, Consumer Services and Basic Materials.
The Fund does not include companies in the following sectors: Weapons and Defence, Pork related products, Tobacco, Alcohol, Financial Services or Entertainment sectors.
There are no fees when you pay money in, transfer, or withdraw money, or close the ISA. The only fee is a 1.5% annual amount.
This is taken out in small amounts each week when the ISA Fund value is calculated. We take approximately 1/52 of 1.5%, so that over the year, we will deduct a total of 1.5%. The actual amount taken each week will depend upon your ISA value each week.
As an example, if your ISA was worth £1,000 every week throughout the year, your charges would be 28.8p per week. Over the whole year therefore your charges would total £15.
You will find more information about the Shariah Junior ISA in the Key Information Documents and the Shariah Junior ISA Terms and Conditions. Below are some important points that we want you to be aware of:
Our Shariah Junior ISA is fully Shariah Law compliant and designed for the medium to long term (5 years or more). You can invest as little as £10 per month by direct debit and it also offers the flexibility to contribute lump sums at any time up to the annual ISA limit.