I wanted to understand if it is acceptable to invest in property funds such as
LGIM Managed Property
Standard Life Property
Aegon Threadneedle Pensions Property
AIPL Property
BlackRock Life iShares UK Property
Seeing as there is no indication of the funds being marked as shariah compliant , and if there is a burden on the investor to check that the properties in the funds are not being used for haraam activities.
Regards
Nasir
Assalaamu alaykum,
There are two types of property funds, direct and indirect. The direct property fund is one which owns commercial real estate whilst the non-direct owns equity in property management companies.
The former has a very low non-compliance risk and the latter has a low non-compliance risk.
As such, if you cannot see anything which contradicts Shariah principles, it is permissible to invest.
JZK Mufti Faraz,
From what I can tell most of the funds invest in commercial retail spaces, offices and warehouses. But if anyone is aware of them investing in anything else it would be of benefit to share.