Edinburgh-based investment giant Baillie Gifford said it has launched its $2.7 million Islamic Global Equities Fund.
Baillie Gifford said the fund is built for professional investors and retail savers with a long-term horizon of five years or more.
It said the fund invests in a focused global portfolio of around 50 of the world’s best Shariah-compliant growth companies and aims to outperform the MSCI ACWI Islamic lndex by 2% per annum over rolling five-year periods.
It is a Dublin-domiciled UCITS fund, approved for sale in the UK. UCITS stands for Undertakings for Collective Investment in Transferable Securities, which are open ended funds, not closed-end like investment trusts.
The 10 largest holdings in the fund at May 31, 2026, were Alphabet, Amazon, Microsoft, Shopify, Apple, Samsung, Roche, Murata Manufacturing, TSMC and Planet Labs.
“Managed by Tolibjon Tursunov and Saad Malik, the fund offers Muslim investors access to a high conviction portfolio of exceptional growth companies aligned with Shariah principles,” said Baillie Gifford, which manages more than $200 billion of assets.
“Despite growing global interest in Islamic investing, the team believes Muslims are still faced with a lack of good options.”
Tolibjon Tursunov, who began developing the fund over 10 years ago, said: “Investing in line with your beliefs should be simple, but for many Muslim investors, it isn’t.
“Islamic equity funds account for less than one per cent of the global equity universe, and most offer little more than a screened index.”
The Edinburgh firm added: “Baillie Gifford lslamic’s approach is consistent with the firm’s commitment to long-term investing and grounded in fundamental, bottom-up research. The team thinks deeply about the likely legacy each company will have on society and the environment when assessing its potential to grow sustainably over many years.
“The team also works closely with Islamic scholars and index providers to improve industry standards and widen the investible universe. These conversations — informed by insights from company-focused research — have made businesses like Shopify and Denali Therapeutics more widely investible for Muslim investors.”
Tursunov added: “Before launching, we established strong working relationships with leading scholars within Islamic finance and other industry stakeholders. These efforts have paved the way for dialogue that adds value for clients, but also benefits the wider Islamic investment community.”
Baillie Gifford said there are an estimated four million Muslims in the UK, about 6% of the population — yet Islamic equity funds account for less than 1% of the global equity universe.