Propelle is launching an investment app offering access to seven funds as well as monthly free webinars and educational blogs and much more to come.
Propelle is funded by Ayesha Ofori, ex wealth manager at Goldman Sachs and property investor.
A fund is where multiple customers' money is pooled together and invested in a selection of many different assets, commonly things like various different stocks and bonds. When you invest in a fund, you’re essentially investing in the hundreds or thousands of different assets that are in that fund. This can give you greater diversification.
Funds are often either actively or passively managed. If they’re actively managed, there will be a team of humans in charge of selecting the investments in the fund. If they’re passively managed, there will be an algorithm that follows a predetermined list of investments. Actively managed funds will usually rebalance more frequently, which can mean that they cost more than passively managed funds. When looking at which fund to invest in, you’ll find a key information document, called a KIID, attached to each fund, which will give you lots of details on how the fund works. It’s worth looking out for the likes of charges, top holdings and volatility to see how these points align with your investment goals.
ESG stands for Environmental, Social and Corporate Governance. This is an umbrella term for investments that are aligning with more sustainable companies and those trying to align with key goals, such as the United Nations Sustainability and Development Goals, to make the world we live in a better place. There are lots of grey areas and changing regulations that mean ESG can cover a wide range of inclusions and exclusions and points for debate. Be aware: there’s no such thing as perfect when it comes to ESG investing.
Shariah-compliant funds are investment funds governed by the requirements of Shariah law and the principles of the Islamic religion. Shariah-compliant funds are considered to be a type of socially responsible investing. The key principles of Shariah investing are the prohibition of riba, the avoidance of haram, socially responsible investing and transparency and fairness.
For any changes to your account, pelase get in touch at support@propelle.io. Our team will be happy to assist you.