Sun Life Indonesia seeks sharia funds rule change
The insurer wants to be able to offer unit-linked products that invest 100% in offshore-focused sharia funds. Separately, it is looking to raise its corporate bond exposure.
Insurance firms in Indonesia should be allowed to provide unit-linked products that invest 100% in offshore sharia-compliant funds, said Elin Waty, president director of Sun Life Indonesia.
Fund houses in the country have, since November, been allowed to launch sharia-compliant products that allocate 100% of their assets offshore, up from the previous limit of 15%. At least five asset managers have launched offshore sharia-compliant mutual funds in Indonesia, including Aberdeen, B…
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