Canadian fund distribution platform launches first Islamic investment product
Canadian fund distribution platform NEO Connect has onboarded its first Islamic investment product.
The Shariah-compliant Manzil Mortgage Investment Fund, from Islamic mortgage lender Manzil, is on NEO Connect and is also listed on DealSquare, Canada’s first centralised platform for private placement offerings, NEO said in a statement on Tuesday (Nov 26).
NEO Connect is Canada’s first distribution platform to allow investment products not listed on an exchange to be purchased and redeemed. It was launched in 2016 and has helped fund providers raise nearly $1 billion across 70 PTFs, it said.
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