Investment Objective & Strategy
The Corex Halal Portfolio seeks to maximize risk-adjusted returns while making investments that meet Shariah requirements and are compliant with Islamic law. The Portfolio achieves this objective by using a diversified set of investment products across various geographies and asset classes that meet Shariah compliance standards as set by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI).
Portfolio Holdings
The Corex Halal Portfolio is constructed using a diversified portfolio of Shariah-compliant asset classes and investment strategies:
| Physical Precious Metals |
Metals that exhibit high economic value due to their scarcity, use in industrial processes, inflation hedging properties, and role as a store of value. Physical precious metals funds are physically backed and track the current spot price. Portfolio holdings may include: |
| Shariah Compliant Global Public Equities |
Stocks that trade on an exchange diversified across regions, sectors, and company size (market capitalization) in both developed and emerging markets, that are consistent with Islamic values by excluding companies with impermissible accounting ratios or business activities. Portfolio holdings may include: |
| Shariah Compliant Income Investments |
Offers investors periodic payments often tied to profit-sharing. Higher-quality income investments generally provide more stable cash flows, while lower-quality securities can provide higher returns but carry a higher risk of default or non-payment. Portfolio holdings may include: |
| Shariah Compliant Real Estate Investment Trusts |
Publicly traded companies that own and/or operate income-generating real estate which are consistent with Islamic values by excluding companies with impermissible accounting ratios or business activities. Portfolio holdings may include: |
*The Corex Halal Portfolio includes non-prospectus qualified investment funds that are offered through an Offering Memorandum and are therefore exempt from securities regulation. Additional details on these funds are provided below.
-
Manzil Mortgage Fund:
- The Manzil Mortgage Fund is a non-prospectus-qualified investment fund that is offered through an Offering Memorandum.
- Corex does not compensate, or is compensated by Manzil in any way in placing you into this fund. The Fund's total Management Expense Ratio (MER) is 1.49%.
- The Manzil Mortgage Fund is invested and redeemed weekly. Under typical circumstances, withdrawal requests can usually be met within a week.
- In certain cases, and at Manzil's discretion, withdrawal requests over $20,000 from this Fund in a calendar month may be subject to additional restrictions and cash may not be received in your bank account for up to one year. While we do not anticipate this happening often, this clause is intended to protect all unitholders of the Fund.
- Profits from the Fund are paid to you on a monthly basis.
- The Fund invests in residential mortgages across Canada that are originated by Manzil. While these mortgages are fully collateralized, they may be subject to default and prepayment risk. Overall, Corex deems the Fund to be a relatively low-risk investment.
Portfolio Allocations (%)
The Corex Halal Portfolio is available in five risk profiles:
| Very Low Risk | Low Risk | Medium Risk | High Risk | Very High Risk | |
| Precious Metals | 0 | 6 | 9 | 6 | 0 |
| Shariah Compliant Global Public Equities | 15 | 30 | 48 | 67 | 90 |
| Shariah Compliant Income Investments | 84 | 60 | 38 | 19 | 0 |
| Shariah Compliant REITs | 0 | 3 | 4 | 7 | 9 |
Portfolio Performance (%) - Annualized
Note: performance is shown for illustration purposes only and is not based on actual client results, which may vary. Please see below for additional disclaimers.
| 1 Month | 3 Month | 6 Month | YTD | 1 Year | 2 Year | 3 Year | Since Inception | |
|
Very Low Risk |
3.00 | 2.56 | 2.57 | 4.12 | 10.07 | 8.58 |
7.21 |
7.48 |
|
Low Risk |
4.38 | 4.02 | 7.08 | 7.96 | 19.72 | 13.97 |
12.16 |
11.76 |
|
Medium Risk |
6.12 | 6.3 | 11.77 | 12.2 | 29.37 | 18.84 |
16.7 |
15.74 |
|
High Risk |
7.95 | 9.76 | 15.77 | 16.42 | 36.33 | 21.56 |
19.49 |
18.02 |
|
Very High Risk |
10.22 | 14.33 | 20.16 | 21.35 | 43.33 | 23.73 |
21.92 |
19.97 |
Source: Corex as of May 30, 2026. Portfolio inception date: August 1, 2022.
How are the distributions paid for the Manzil Mortgage Fund?
Distributions refer to the cash income you receive by being an investor in the fund. You are entitled to distributions for the period in which you are an investor in the fund.
In the case of the Manzil Mortgage Fund, the distributions are paid out in the month following the month in which you are an investor in the fund.
For example, in the Manzil Mortgage Fund, you'll receive a distribution in August for being an investor in the fund throughout the month of July, and you will receive a distribution in September for being invested in the fund throughout August, and so forth.
You officially become an investor in the fund when your purchase is processed on the NAV (net asset value), which occurs once a month.
In other words, there is always a start date of eligibility for shares held that is applied but, your distributions should be regular following this pattern moving forward. In the event you sell the fund in September, for example, you are still entitled to receive a distribution in the month of October.
Disclaimer
This information should not be relied upon as investment advice, research, or a recommendation by Corex Financial Inc. (“Corex”) regarding (i) the Funds, (ii) the use or suitability of the model portfolios or (iii) any security in particular. Corex does not provide legal or tax advice and we encourage you to consult your own lawyer, accountant, or other advisors before making an investment.
The information on this website is not an offer or solicitation for the purchase or sale of any financial instrument in any jurisdiction, nor is it a commitment by Corex or any of its affiliates (collectively “Corex”) to enter into any transaction referenced herein. All information provided by Corex herein is indicative, is based on certain assumptions and current market conditions and is subject to change without notice. Accordingly, no reliance should be placed on the information herein. In deciding whether to enter into any transaction or strategy referenced herein, the recipient should rely solely on the final documentation, which will contain the definitive terms and conditions relating to any referenced transaction or strategy.
The information has been provided for illustrative purposes only and should not be relied upon by you in evaluating the merits of investing in any securities or strategies mentioned herein. This data is hypothetical and the performance does not represent actual returns. All data shown is reported in Canadian dollars and reported gross of Corex' discretionary management fees, but net of any management expense ratios (MERs) of underlying funds. The interpretation of these results should take into consideration the limitations inherent in the results of the model. Actual client portfolio returns may differ due to fees, rebalancing frequencies, as well as the timing of deposits and withdrawals.
Your capital is at risk with any type of investment. The value of your portfolio with Corex can increase or decrease. Past performance is no guarantee of future results. Please read our investment risk disclosure for more information.
An investment may be risky and may not be suitable for an investor's goals, objectives, and risk tolerance. The value of investments and the income derived from investments will fluctuate and can go down as well as up. A loss of principal may occur.
Portfolio target allocations are subject to change at the discretion of Corex' portfolio managers. Target allocations may differ slightly from what appears in client accounts due to periodic market fluctuations.
The price movement of an index-based ETF may not track the underlying index and may result in a loss. ETFs may trade at a price below their net asset value (also known as a discount). All regulated investment companies are obliged to distribute portfolio gains to shareholders.
Corex Financial Inc. is a registered Portfolio Manager in each of the provinces and territories of Canada and as an Investment Fund Manager in the provinces of Alberta, British Columbia, Ontario, Newfoundland and Labrador, and Quebec.
Assets in your Corex accounts are held with various custodians, each registered as an investment dealer with the applicable securities regulators. All custodians are members of the Canadian Investment Regulatory Organization (“CIRO”) and the Canadian Investor Protection Fund (“CIPF”).
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