About Us

A Boutique Asset Management Firm Specializing In Socially Responsible & Halal Investing

At ShariaPortfolio Canada Inc., (ShariaPortfolio) we offer professionally managed investment solutions that help Muslims achieve their life goals while honoring their personal values. We know that our clients have different financial needs so we provide a full range of investment options, including our Access personal wealth management services and our Institutional service for Advisors who wish to offer halal options to their clients.

With over 15 years of experience working in diverse market conditions, we apply a rigourous research and analytics approach to wealth management, focusing on value investing for long-term results. ShariaPortfolio Canada Inc. is pleased to offer its brand of Sharia-compliant investment services in Alberta, Ontario and British Columbia.

Sharia-Compliant Investing
ShariaPortfolio manages all portfolios in accordance with the rules determined by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). Our investment choices are Sharia-compliant, or halal, which means they are permissible under Islamic guidelines.
To be Sharia compliant, companies and investments must pass several screens for permissible asset classes and business activities. Stocks and Islamic ETFs are eligible for Sharia compliance consideration but preferred shares and interest-paying securities are not. A business activities screen excludes companies that derive more than five percent of their total income from non-compliant income sources.

Non-Compliant Sources:

Meet The Team

Fatema Alidina

Executive Assistant to CEO

Mohamed Ladak

Business Development Coordinator

Salaudeen Nausrudeen

Marketing Manager

Nadeem A. Mian, CFA

Portfolio Manager

Sajjad Hodaeian

Financial Advisor

Shamil Devji

Financial Advisor

Yasmeen Virji

Client Services Associate

Carlos Perez

IT Administrator

Samir Ladak

Software Solutions Coordinator

Get Started Today
Opening an account has never been easier! Please fill out the form here and an advisor will be in touch to walk you through the process!
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Frequently Asked Questions

For our Access wealth management service, the minimum initial amount is $100,000. Access level clients get year-round access to financial professionals and receive personalized portfolios that include both stocks and funds. Please note that the minimum can include several accounts with ShariaPortfolio(ie. Cash Account, a RRSP and a RESP). Our advisers look forward to working with you to achieve your financial goals! 

We understand the importance of starting a saving and investment program even if one’s financial means are currently modest.  The Express service is designed for such investors, offering managed account starting at a minimum of $1000.   Because of the low dollar value of these accounts, portfolio investments will be simpler and will typically require less ongoing oversight and review.  Nevertheless, your account will be overseen by a licensed portfolio manager.

We charge an annual fee of between .5 to 2% of the value of the portfolio, depending on the amount of assets being managed and the type of service provided. Unlike many other advisers, we do not accept commissions from mutual fund companies. 

Your portfolio will be held with Fidelity Clearing Canada ULC, a custodian that is registered with the Investment Industry Regulatory Organization of Canada and, participates in the Canadian Investor Protection Fund. a fund set up to ensure client assets.  Fidelity Clearing Canada ULC is part of the Fidelity group of companies that handles over $10 trillion dollars of customer assets world wide

The Sharia guidelines are based on the rules determined by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), a global Islamic finance standards-setting body, governed by an international panel of highly respected Sharia scholars. 

Asset classes
Only stocks, sukuks and Islamic ETFs are eligible for Shariah-compliance consideration. Preferred shared are considered to be non-compliant.

Business activities screens
Companies are only to be considered compliant from a business perspective if the cumulative revenue from non-compliant activities and non-operating interest income does not exceed 5% of their total income. Non-compliant income sources include the following: 

  • Alcohol
  • Gambling
  • Weapons
  • Tobacco
  • Adult Entertainment
  • Pork Products
  • Highly-leveraged Businesses
  • Interest-Based Businesses
  • Music, Cinema or Broadcasting

Financial screens
The following screens have to be fulfilled to ensure Sharia-compliance according to the defined rules: 

  • Interest-bearing debt divided by 12-month average market capitalization should be less than 30% 
  • Cash, cash equivalents and short-term investments divided by the 12-month average market capitalization should be less than 30% 
  • Cumulative revenue from non-compliant activities and non-operating interest income should not exceed 5% of total income 

We rely on the Sharia rules defined by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), a global Islamic finance standards-setting body, governed by an international panel of highly respected Sharia scholars. Learn more at https://aaoifi.com/ 

ShariaPortfolio Canada offers a comprehensive solution to investing that includes a variety of Sharia-compliant stocks and funds.  ShariaPortfolio employs a core satellite approach in investing, where active returns are generated by stocks and sector selection and active risk is mitigated by core holdings. It takes a value based, hands-on approach in selecting high conviction securities as satellites for the portfolios. Buying or selling of stocks, sukuks, commodities or ETFs is based on target price and fundamental discipline.  ShariaPortfolio’s portfolio managers take a proactive approach to assign a standard portfolio according to the client’s risk, return and life cycle objectives. Standard models are managed by ShariaPortfolio to achieve the returns with a designated level of risk. 

Investments containing only ETFs are designed to parallel the returns of a particular market index or benchmark as closely as possible. For example, each stock listed on the S&P 500 Shariah Industry Exclusions Index (SPSIEUP) is weighted. That is, it represents a percentage of the index that is commensurate with its size and influence in the real world. An exchange traded fund ETF, for example SPUS (which tracks SPSIEUP), will use the same weights.  This is passive portfolio management and its objective is to generate a return that is the same as SPSIEUP index. The strategy requires a buy-and-hold mentality.  Because this investment strategy is not proactive, the management fees are lower than active management strategies. 

Our USA affiliateShariaPortfolio, started in 2003 and was one of the first sharia-compliant wealth managers in the USA with clients nationwide.  In 2019, SP Funds (another affiliatelunched two Exchange Traded Funds (ETFs) which are listed on the NYSE.  ShariaPortfolio Canada was officially launched in January 2020.   

Naushad Virji

CEO

Naushad Virji is the CEO of SP Funds Management and Chairman of the ShariaPortfolio Group of Companies. ShariaPortfolio is a leader in offering comprehensive Sharia-compliant investment solutions around the world. Naushad founded ShariaPortfolio in the USA in 2003, led the expansion into Canada in 2017 and started working with global clients in 2020. He is also one of the portfolio managers for the SP Funds line of Sharia-compliant exchange traded funds (ETFs).

Naushad is a frequent speaker and contributor to various news media around the world on the topic of Sharia-compliant investment management. In 2019, Naushad was honored with the distinction of being one of the 500 most prominent and influential Muslims in the world by Islamica 500.

Prior to launching ShariaPortfolio, Naushad managed a hedge fund. He has also been the manager of several real estate partnerships. From the beginning, it’s been Naushad’s focus to offer professionally managed investment solutions to help the Muslim community achieve their financial goals without compromising their personal values.

Naushad received his degree from the University of Florida and then passed the exam to become a licensed investment advisor representative so he could start his own firm. Naushad was born in Italy but has lived in Florida since 1975.

Sabinah Amershi

Vice President

Sabinah was a successful Client Service Representative at Bank of America before joining ShariaPortfolio in 2015. She started as a Client Service Associate but quickly rose the ranks and became the Client Service Manager and now manages the team of Associates. Her attention to detail and focus on customer care ensure that our clients are in good hands.

Irfan Chaudhry, CFA, CAIA

CCO/PM

After a progressive career to-date covering many aspects of Investment Management, Irfan Chaudhry have been listed among world’s ‘Top Wall Street Economists, Experts and Opinion Leaders’ by the Wall Street Economists Institute in 2011.

Previously he has served as Chief Investment Officer and Chief Compliance Officer for TAHO Capital, Investment Strategist for Emirates NBD Asset Management, Portfolio Manager for Med Family Trust, and Portfolio Manager for the City of Regina Pension Fund. He now acts as Chief Compliance Officer and Portfolio Manager for ShariaPortfolio Canada Inc. He leads all regulatory compliance, Portfolio-related Research, Risk Management, Fund Management, Portfolio Strategy, Asset Allocation, Trading and Investment Banking.

He has also spent time in academia and research while earning his MBA, CFA and CAIA designations.

Fatema Alidina

Executive Assistant to CEO

Fatema Alidina graduated the University of California, Santa Barbara in 2010 with Bachelor of Arts Degrees in Communication, and Sociology. She worked at Omnicom Media Group as a Strategist before joining ShariaPortfolio, USA in 2014 where she worked as a Marketing Associate and Client Services Manager. Fatema rejoined SP Funds as the Executive Assistant to Naushad Virji in 2019. With communication, professionalism, and faith at the heart of her career, Fatema considers herself a chameleon and has the ability to seamlessly contribute to many different aspects of SP Funds’ sprawling brand. In her spare time, Fatema enjoys yoga, traveling, and spending time with her three children.

Mohamed Ladak

Business Development Coordinator

Mohamed is an accomplished Financial Executive with extensive experience in the Financial Services industry and innovative leadership skills in strategic planning, financial management and business development, including acquisitions and divestitures. A balanced and influential senior leader who takes passion in building strong relationships, driving change, and delivering business value through continuous improvement with a reputation for leading with values, integrity, respect and inspiration. Consistently recognized as a top performer and team player who is dedicated to getting the job done. Mohamed ensures informed strategy is paired with nimble execution to drive results and improve user experience.

Salaudeen Nausrudeen

Marketing Manager

Salaudeen Nausrudeen is purpose driven marketing executive with 15 years of experience successfully implementing fresh ideas for companies eager to grow in the Islamic Finance space. A creative visionary with the ability to blend new technologies with marketing concepts to engage consumers and expand business reach. Salaudeen is a specialist in marketing and branding in Islamic Finance and sports marketing.

Nadeem A. Mian, CFA

Portfolio Manager

Nadeem began his career with Oppenheimer & Co, a mid-tier Wall Street investment firm. After returning back to Canada in 2002, he had roles in private wealth management with firms like HSBC Securities, Canaccord Genuity and Royal Bank of Canada before joining ShariaPortfolio Canada in 2019. Nadeem graduated from Concordia University with a Bachelor of Commerce in Finance and holds a CFA designation.

Sajjad Hodaeian

Financial Advisor

Sajjad is an MBA graduate from the University of Canada West in addition to a Master of Finance degree. Originally from Iran, he has extensive experience while at the Tehran Stock Exchange. Sajjad has a deep interest in Halal investing and puts his experience and knowledge to work for his clients.

Shamil Devji

Financial Advisor

Shamil graduated from Simon Fraser University in 2020 and has obtained his BBA with a concentration in finance. Through his time at the Beedie School of Business, Shamil has gained valuable skills such as building client relationships, analyzing capital markets, and learning about the foundation of ethics in business. His passion for investing and finance is driving him to work towards his CFA charter. In his free time, he loves to watch and play competitive sports.

Yasmeen Virji

Client Services Associate

Yasmeen graduated in 2020 from the University of British Columbia with a degree in Gender, Race, Sexuality, and Social Justice. She previously worked as Client Specialist for ShariaPortfolio and looks forward to helping clients open their accounts with ease and clarity. She is happy to work for a firm that enables clients to invest in socially responsible ways. When she’s not working, Yasmeen enjoys studying psychology and practicing yoga.

Carlos Perez

IT Administrator

Carlos Perez is an award winning and nationally recognized Technology Professional with years of IT Infrastructure at the Microsoft Corporation. Principal of Perez Technology Group, Perez is a Microsoft Certified & Dell Certified Professional who specializes on the development of Technology solutions that solve business needs for small and medium size businesses. He has been responsible for the migration, deployment and management of Cloud based solutions across vertical markets including  Fortune 100 companies. He has specialized experience in the Finance, Insurance, Marketing, Legal and Health Care industries & delivered IT projects support to Media Agencies & Non-Profit Organizations.

Perez is also a published author and a featured Tech expert on the Hartford Business Journal & the Orlando Business Journal. He has been featured on the Technology publication CRN, The Channel Company, Spectrum News in Florida, WAPA America, Telemundo NBC Universal & New York 1 for his IT expertise. He was awarded the Entrepreneur of the Year award by the Connecticut Minority Supplier Development Council & the Global Entrepreneur of the Year award by The National Foundation for Teaching Entrepreneurship (NFTE). He previously served as a Manager for Microsoft FastTrack Center, a customer success service designed to help customers realize business value with the Microsoft Azure Cloud and Office 365.  Perez is a member of the Microsoft Partner Network & studied Business IT at the University of Connecticut.

Samir Ladak

Software Solutions Coordinator

Samir graduated from McGill University in 2020 and obtained his BA&Sc with a double major concentration in Computer Science and Economics. Throughout his time at McGill University he was a part of the Varsity Golf Team and captained in his Junior and Senior years. Samir specializes in software/application development, data analysis, and test automation. He is a detail oriented individual, and has a strong passion for innovation and improvement.

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