Which is a good Shariah-compliant mutual fund?

I am planning to start shariah based investments. Could you please guide me? How about Tata Ethical Fund? What would be the returns after 10 years?
--Umar Farook

Vishal Dhawan, Founder, Plan Ahead Wealth Advisors, responds:

There are a few Sharia-compliant mutual fund schemes in India— some are actively-managed multi cap schemes and there is also an exchange traded fund (ETF) that invests in the Nifty 500 Sharia Index. The Tata Ethical Fund has a good long term track record and has outperformed its benchmark over multiple time frames, but not always. You need to keep in mind that a combination of an active shariah fund and a passive shariah may be most suited for long term portfolio.

You haven't mentioned your risk profile. Invest in equity schemes only if you have a high risk taking ability.