HSBC’s Islamic fund ploughs $38m in Palantir Technologies
HSBC’s Shariah-compliant fund has invested $38 million in US data analysis firm Palantir Technologies, despite its deepening relationship with the Israeli military.
The banking behemoth’s Islamic Global Equity Index Fund has invested $38,338,000 in Palantir shares in the first six months of the year, becoming the fund’s third largest investment after Taiwan Semiconductor Manufacturing ($107.5 million) and Intel ($82.2 million), HSBC’s latest semi-annual report shows.
The HSBC Islamic Global Equity Index Fund, in which several UK-based Sharia-compliant workplace pension schemes have invested, is a passively managed global equity fund split across several institutional and retail share classes.
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