HSBC Asset Management HSBC Islamic Global Equity Index Fund

The workhorse of UK halal investing: a Luxembourg-domiciled index fund (sub-fund of HSBC Islamic Funds SICAV, launched 28 April 2000) that fully replicates the Dow Jones Islamic Market Titans 100 Index of the 100 largest Shariah-compliant global stocks. UK retail investors buy GBP share classes on mainstream platforms: on Hargreaves Lansdown the Class BC Accumulation (ISIN LU2092165666) carries a 0.62% ongoing charge with a GBP 100 minimum (GBP 25 by direct debit), is ISA and SIPP eligible and has UK reporting fund status. The strategy's combined vehicles hold over USD 8 billion, and this fund is the underlying engine of the NEST Sharia Fund's equity allocation, Penfold's Sharia plan and Aviva's Shariah strategy - making it the single most systemically important Islamic investment product in Britain. Portfolio skews heavily to US mega-cap technology (Technology Hardware plus Software were over 53% of sector weight at 31 May 2026).

If UK halal investing has an index card, this is it. Everything else in the market either feeds on this fund (NEST, Penfold, Aviva) or competes with it (Schroder, iShares). The case for buying it directly is overwhelming for DIY investors: same engine as the packaged products at 0.62% instead of 0.88-1% total stacks. The case against is concentration - DJ Titans 100 is effectively a bet that US mega-cap tech remains the compliant universe's centre of gravity, as its 35.7% 2025-26 run and prior drawdowns both demonstrate. Pair it with the iShares EM Islamic ETF or a sukuk fund if you want an actually diversified halal portfolio rather than a tech index with a fatwa.