Walton's Investment Products Now Shariah-Compliant

By Massita Ahmad SINGAPORE, April 15 (Bernama) -- Singapore Financial Shariah Advisory and Consultancy has endorsed the Walton Group of Companies' investment products as shariah-compliant. Walton, one of North America's premier land asset managers, has assets worth over C$5.1 billion with nearly 41,200 hectares under its administration and more than 95,000 clients worldwide including in Malaysia. President of Asia of Walton International Group, Gary Tom, said the shariah endorsement was important as some of its clients were Muslims. "They can now be reassured that our investment products are shariah-compliant," he said at the Shariah Pronouncement ceremony here Friday. Tom said Walton had sought shariah endorsement for its investment products since early last year. With over 30 years of experience in land acquisition and administration, Tom said, Walton was well-positioned to identify a lasting investment. "Our approach to the research, acquisition, administration, planning and in some cases, the development of real estate assets across North America, have enabled us to target strategically-located land," he said. Walton's investment products will have an average internal rate of return of 12.47 per cent over an average of 8.45 years. -- BERNAMA