A boutique asset management firm specializing
in socially responsible and halal investing.

 

About

ShariaPortfolio

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 many countries around the world.

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 Income Sources:

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

Our Team

Experienced and trusted professionals working diligently to determine suitable investment strategies
and build custom portfolios that adhere to Islamic principles and personal values.

Naushad Virji
CEO

Salaudeen Nausrudeen
Marketing Manager

Sabinah Amershi
Vice President

Nadeem A. Mian
Portfolio Manager

Irfan Chaudhry
Chief Compliance Officer

Speak To An Advisor

Naushad Virji

 Phone: (604) 260-7150 x 801

 Email: naushad@shariaportfolio.ca


Naushad Virji was born in Italy in 1971 but has lived in Florida since 1975. Naushad earned a degree in business administration from the University of Florida and then went on to successfully complete his series 65 NASD examination to become a registered investment advisor representative. Based in our Orlando area office, Naushad is the CEO of ShariaPortfolio.

With an interest in activism and community service, Naushad co-founded the United Muslim Foundation, where he currently serves on the board of directors. Naushad is also on the advisory board of Advance Law, a Washington, DC based legal consulting firm that works with some of the largest companies in the world to help them retain quality law firms that have been carefully vetted to provide superior value.

Living in Longwood, Florida, Naushad is happily married with three children. His personal interests include golf, tennis and spending leisure time with his family.

Nadeem A. Mian

 Phone: (604) 260-7150 x821

 Email: nadeem@shariaportfolio.ca


Nadeem is a veteran equity investor and investment manager who has built portfolios for a wide range of clients for more than 20 years. His broad experience starting in New York to Toronto and through various market cycles has given him a unique perspective that clients appreciate and helps to identify situations that reflect greater future value.

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.

Irfan Chaudhry

 Phone: (604) 260-7150 x 823

 Email: irfan@shariaportfolio.ca


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.

Sabinah Amershi

 Phone: (604) 260-7150 x 816

 Email: sabinah@shariaportfolio.ca


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.

Salaudeen
Nausrudeen

 Phone: 604-260-7150 Ext. 826

 Email: salaudeen@shariaportfolio.ca


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. 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 the Islamic Finance and sports marketing.

Frequently Asked Questions (FAQs)

Is there a minimum initial investment to open an account with ShariaPortfolio?

For the Express service, the minimum initial amount is $1,000. Express accounts are easy to setup, have very low fees and include annual reviews with a licensed professional portfolio manager 

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! 

What do your services cost?

We charge a flat management fee, which ranges between 0.50 percent to 2.00 percent per year, 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. 

How do I know my money is safe with your firm?

ShariaPortfolio uses reputable custodians, such as Fidelity, to hold your portfolio. Clients have 24/7 access to their accounts with no long-term commitments. Your money will be managed according to your objectives, risk tolerance and preferences.  Additionally, all accounts are insured up to $1,000,000 with Canadian Investor Protection Fund (CIPF). 

What are the Sharia guidelines used to screen global equities?

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 

How do you ensure Sharia compliance?

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/ 

What is the difference between ShariaPortfolio and an Exchange Traded Fund?

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. 

Can I choose some of the stocks to add to my portfolio?

Yes. We’re pleased to offer a fully customized solution for your investment needs through our Access personal wealth management service. You can request that we add a stock or fund to your portfolio anytime. 

How long has ShariaPortfolio been around?

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.   

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