The Shari’ah Top 40 Exchange Traded Fund (ETF) tracks FTSE/JSE Shari'ah Top 40 Index, an index compiled and calculated by FTSE and the JSE. FTSE/JSE Shari'ah Top 40 Index is comprised of securities in and is designed to represent the performance of the 40 largest and most liquid JSE-listed companies whose activities and financial ratios are Shari'ah-compliant.
The Shari’ah Top 40 excludes companies that provide financial services, deal in alcohol, certain food products, tobacco and weapons. Shari’ah compliant companies also have to adhere to certain financial rules and ratios to be acceptable.
The index is rebalanced quarterly and all dividends will be paid out to the investors on quartely basis whenever declared.