Wahed Invest Malaysia is here now. Any opinion on this? Hows the charge and all? Bank Negara Approved?

American-based Wahed Invest halal robo-advisory platform announced today that they have successfully obtained regulatory approval from the Securities Commission Malaysia to offer digital investment management services in Malaysia.

Wahed Invest is the 3rd to officially enter the Malaysian market after StashAway and MyTheo.

Citing its support for the Malaysian government’s thrust towards the Islamic Digital Economy, the startup said that it is set to launch in Malaysia and that it intends to make Malaysia their Asia Pacific Hub. Its APAC operations is led by Syakir Hashim, who previously co-founded the recently acquired student loan crowdfunding platform Skolafund.

Wahed Invest’s entrance into Malaysia is not surprising given the fact that it is a leader in Islamic finance, recent reports show that Malaysia produces 26% of the world’s Shariah-compliant financial assets, amounting to US$ 528.7 billion.

A quick check into their app shows that the services are yet to be available to Malaysians but Fintech News Malaysia expects that an announcement of their product launch will come in the weeks to follow.

by : https://fintechnews.my/21829/wealthtech-mal...nvest-malaysia/

Sensible looking allocation, couldn't find info on what they hold in Malaysia and US stocks though

Whatt?! That's a lot of returns

maybe sign up bonus or glitch. no way returns that high after investing just 1 day or so. got pic from one of my whatsapp groups haha.

hahahaha. we cannot choose our own stocks rite?

not individually, no.

I was initially fond of the idea of a shariah based robo advisor, but i don't like that they have Malaysian stocks in the portfolio (except for very low risk allocations). Wish there was an option to load up the equity allocation with US/global stocks only.

Hows the fx transaction costs compared to SA/MT?

Not bad 👍

just downloaded the app. why my app looks different to yours? even the background color is different, mine is in white but yours in red???

This not mine, someone sent from whatsapp group. real or no real i also don't know.

That's myTheo, i dont know why someone would want to post this here, irrelevant i would say.

Their ETF composition is malaysia ETF that invest in US
MyETF-US50

Just tried as well. Put RM200 inside.

lol I deposited Rm100 in SAMY, Wahed, and MyTheo at the same day (almost same time as well )

Status:

1) SAMY: First deposit just reflected in my portfolio today
2) Wahed: Deposit was in day after payment made, progress + 1.01% after 3 days
3) MyTheo: Deposit was in day after payment made, progress - 1.11% after 3 days

Got it. Thanks

This post has been edited by brokenbomb: Nov 6 2019, 10:22 PM

Unlike other robo-advisor who have 30-40 ETFs, Wahed has only 4, because there are not a lot of shariah complaint ETFs out there in the market.

For US equities, they will be deploying their own ETF, which you can find here:
https://funds.wahedinvest.com/

Seeing that their top holding, Apple, issued their own credit card which has interests, you ownselve judge where it is shariah compliant or not.

For Gold they deploy this Gold Tracker: https://www.tradeplus.com.my/

MYR equities, im not entirely sure, but it should be local shariah complaint funds, not individual equity.

So for your different risk allocation, it's just different weightage on these 4 instruments. No different instruments for different profiles.

Talked to the Malaysian branch head, used to work for PNB, seem to be steady fellow. But for the founder himself...meh

Same.

SAMY and MyTheo losing money but Wahed earning

should i just focus more on Wahed