Products March 23, 2010

New Shariah-compliant Fund Available for Retirement Plans

March 23, 2010 (PLANSPONSOR.com) - Hand Benefits & Trust, a BPAS company, has announced the MIZAN Fund – a Shariah-compliant collective investment fund – is now available upon request through Nationwide.
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Managed by Lightstone Capital Advisers, the MIZĀN All Equity Moderate Allocation Fund is designed to meet the needs of Muslim investors within their qualified retirement plan, according to a press release. The fund seeks long term capital appreciation, consistent with Islamic investment principles, by holding a portfolio of U.S. stocks across seven equity styles.        

The fund seeks to outperform the Russell 3000 Index over a three to five-year time period.       

“For many Muslim investors, not having a Shariah-compliant investment option in their retirement program can preclude their participation altogether. We are pleased to offer this collective investment fund in partnership with Lightstone Capital Advisers. We believe the inclusion of this fund is consistent with the broader practice of accommodating diversity in the workplace.” said Stephen S. Hand, President, Hand Benefits & Trust, in the announcement.      

For more information on the MIZAN Fund, visit http://www.MIZANFunds.com.  Clients using the Nationwide platform can request the fund by contacting their plan services provider.

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