Currently, there are only three Sharia-compliant mutual funds in India:
The first two are actively-managed multi-cap Mutual Fund schemes and Reliance ETF Sharia BeES is an exchange-traded fund (ETF) that invests in the Nifty 50 Sharia Index.
|Name of Fund||Launch Date||AUM||5 year returns
|Tata Ethical Fund||May 24, 1996||523 Cr||11.76%|
|Taurus Ethical Fund||Apr 06, 2009||37 Cr||12.28%|
|Reliance ETF Shariah BeES||Mar 18, 2009||3 Cr||11.44%|
Between the three, Tata Ethical Fund has the longest history and the highest AUM while the returns are approximately the same for all since they are all following the same theme of Shariah compliant investing.
You can invest in Tata Ethical Fund via Goalwise.
Note: You will need a Demat account to invest in Reliance ETF Sharia BeES as it is an ETF.