I am planning for long term investment on Equity or Index Funds through established firms such as Zurich insurance or MetLife insurance.
Details i recieved from the broker is following,
[SUHAIL] How and what does Zurich or MetLife benefit from my investment incase I go with these fund managers ?
- illustration includes profit fees no additional fees,
[SUHAIL] Where they will invest my funds and in what form (any possible list of funds)
**HSBC Islamic Global Equity Index LU2233258073
Emirates Global Sukuk Fund* LU1654397162
Franklin Technology* * LU0976566736
[SUHAIL] Will they invest in thier own insurance or any other third part insurance
Ans: Their own insurance fund *
Zurich and metlife act as fund managers/mediators whereby they invest funds in other stocks and provide protection through thier insurance funds or other islamic insurers based in UAE. since it’s long term fixed monthly investment and locked for certain number of years, returns would be shared post lock in period
Request guidance through islamic fatwa’s and rulings to avoid any violation of islamic rulings