SG brief: AIA Singapore and Franklin Templeton

The logo of AIA Group, a pan-Asian life insurance groupThe logo of AIA Group, a pan-Asian life insurance group

AIA Singapore has tied up with asset manager Franklin Templeton to launch a Shariah-compliant balanced fund via an investment-linked plan (ILP), the insurer said in a press release Tuesday.

“AIA Singapore is thrilled to be Singapore’s first insurer to be launching the Shariah Balanced ILP fund to meet the increasing demand amongst Muslim consumers here where such investment options are limited,” Liu Chun Yen, the chief investment officer for AIA Singapore, said in the statement. “The overlap between Shariah-compliant finance and Environmental, Social and Governance (ESG) principles will also see non-Muslim consumers interested in the fund,” she added.

The fund’s asset allocations will include the Templeton Shariah Global Equity Fund, the Franklin Global Sukuk Fund and the Franklin Shariah Technology Fund, the release said. Franklin Templeton has more than US$3.2 billion in assets in its Shariah business, the release said.