Business · Markets · 3 hrs ago
HSBC Islamic fund invested over $100m in five military-linked firms
HSBC’s Islamic Global Equity Index Fund bought over $100m in five military-linked firms in the first half of 2026.
The fund is based in the UK and is described as sharia-compliant, meaning it says its investments follow Islamic principles.
Its holdings included $35.7m in RTX, whose Raytheon subsidiary works with Israel’s Rafael on Iron Dome interceptors.
The fund also bought shares in Analog Devices, Honeywell and Rolls-Royce, whose products or components have links to Israeli weapons and military equipment.
The investments raise questions about how the fund’s holdings fit its stated principles and its promise of better outcomes for society.
Analog Devices said it does not control funds’ investment choices and that its sales follow export laws; RTX, Honeywell and Rolls-Royce did not comment in the account provided.
The fund’s next steps are not stated.
HSBC’s Islamic Global Equity Index Fund bought more than $100 million in shares of five firms linked to the Israeli military in the first half of 2026, according to Middle East Eye’s analysis.
The fund bought $35.7 million in RTX shares, $20.3 million in Analog Devices, $18.9 million in Honeywell and $17.6 million in Rolls-Royce.
The article also reports that the fund purchased $38 million in Palantir shares, citing an earlier report by Hyphen.
The fund says it builds portfolios according to Islamic investing principles and aims to deliver investment returns and better outcomes for society.
RTX and Honeywell did not respond to Middle East Eye’s requests for comment, while Analog Devices said it does not control funds’ investment decisions.
- Who
- HSBC’s Islamic Global Equity Index Fund.
- What
- It bought shares worth more than $100 million in five firms linked to the Israeli military.
- When
- The first half of 2026.
- Where
- Not stated.
- Why
- Not stated.
This story does not have two clearly opposing sides.
Analog Devices sent components to Elbit Systems, according to the article.
Rolls-Royce Solutions America became the principal contractor to supply engines for Israel’s Eitan armoured personnel carrier in a $180 million Foreign Military Sale.
HSBC’s fund bought shares in five military-linked firms, according to Middle East Eye’s analysis.
Hyphen reported that the fund bought $38 million in Palantir shares.
- RTX shares
- $35.7 million
- Analog Devices shares
- $20.3 million
- Honeywell shares
- $18.9 million
- Rolls-Royce shares
- $17.6 million
- Palantir shares
- $38 million
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