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Wahed and Leverage Shares team up on London version of US Shariah ETF


Wahed, a fintech company that aims to advance financial inclusion through accessible, affordable, and values-based investing, has partnered with fund manager Leverage Shares to debut the latter’s first ETP on the London Stock Exchange. This is based upon a Wahed ETF.

The new ETP tracks the US-listed Wahed FTSE USA Shariah ETF (HLAL) and has just begun trading on the London Stock Exchange. The product seeks to mimic the investment strategy of HLAL which aims for long-term capital appreciation by providing shariah-focused investors access to large and mid-cap US equities.

  • ETPs can be traded like shares on the stock market
  • Wahed provides products across different currency classes, tailored for ethical investors
  • The firm reports strong demand from the UK and EU markets
  • Investors should expect further launches if this partnership with Leverage Shares is successful
  • London remains a leading venue for launches in the ethical / shariah market

Until now, exposure to HLAL was not viable for UK and EU-based investors. The ETP will be passported across Europe and offered in USD, GBx and EUR. The note’s expense ratio is 0.05%, in addition to the TER (total expense ratio) of the underlying HLAL shares in the basket.

“We’re thrilled to partner with Wahed and launch an ETP based on a strategy that has a proven track record,” said Raj Sheth, Commercial Director at Leverage Shares. “Our goal is to provide superior building blocks for ethical-minded investors to shape better portfolios in line with their religious values.”

Launched in 2017, Wahed is a financial investment company that aims to advance financial inclusion through accessible, affordable, and values-based investing. The company has made significant in-roads in the world of ethical and halal investing by creating an easy-to-use digital platform with free portfolio recommendations. Wahed’s services have already attracted over 300,000 customers in the US, UK, Malaysia, and beyond through its website or mobile app.

Leverage Shares describes itself as a European leader in leveraged and inverse ETPs – exchange traded products. They offer experienced traders magnified exposure and efficiency when buying stocks on leverage. They are currently the only ETP provider in Europe offering  physical replication of leveraged and inverse ETPs. One of the attractions of its product range is the scope to trade at up to x3 leverage without the need to access a CFD trading account.

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This article does not constitute investment advice. Do your own research or consult a professional advisor.

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