Hejaz High Innovation Active ETF Removed from ASX Following Equity Trustees' Request to Revoke Trading Status

Hejaz High Innovation Active ETF Ceases Trading on ASX from 1 July 2026

The Hejaz High Innovation Active ETF (HHIF) officially lost its trading status on the ASX at the close of business on Wednesday, 1 July 2026. This revocation was confirmed in a company update released by ASX Supervision, indicating that the ETF will no longer be available for purchase or sale on the exchange from that date onward. Investors holding units at the close of trading will no longer have access to liquidity through the secondary market on the ASX.

The delisting was carried out under ASX Operating Rule Schedule 10A.3.1.(g), which permits revocation of trading status upon request by the Responsible Entity or an affiliated party. The company update did not disclose the commercial or operational reasons behind the request. Investors seeking more information are advised to contact Equity Trustees Limited or Hejaz Financial Services directly.

Equity Trustees Limited’s Role in Initiating the HHIF Delisting

Equity Trustees Limited was identified as the party that formally requested the revocation of HHIF’s trading status from ASX Supervision. As an ASX-listed trustee and financial services provider, Equity Trustees often serves as the responsible entity for various managed funds and ETFs on the ASX. In this capacity, it holds legal responsibility for fund operations and is authorized under ASX rules to initiate removal of a fund’s trading status.

The specific reasons for Equity Trustees Limited’s request were not disclosed. Whether this action reflects a planned wind-up, restructuring of Hejaz’s product range, a commercial decision by Hejaz Financial Services, or another factor remains unclear. Investors and market participants should monitor forthcoming communications from Equity Trustees Limited or Hejaz Financial Services for further updates.

Implications of ASX Operating Rule Schedule 10A.3.1.(g) for HHIF Investors

ASX Operating Rule Schedule 10A governs the admission, operation, and removal of managed funds and ETFs on the ASX. Rule 10A.3.1.(g) allows trading status to be revoked at the request of the responsible entity under defined conditions. This indicates that HHIF’s delisting followed a formal, rule-based process rather than regulatory enforcement or suspension.

For unit holders, this means that HHIF units can no longer be traded on the ASX. Depending on the fund’s structure and decisions by Equity Trustees Limited, investors may eventually receive distributions of net asset value through a formal wind-up or other arrangements. No timelines, redemption procedures, or asset distribution details were provided in the update. Investors should seek guidance directly from the responsible entity.

Overview of Hejaz High Innovation Active ETF and Its Listing History

The Hejaz High Innovation Active ETF was an actively managed exchange-traded fund listed on the ASX under ticker HHIF. It formed part of Hejaz Financial Services’ suite of Shariah-compliant financial products targeting the Australian market. Unlike passive index-tracking ETFs, the fund’s portfolio manager actively made investment decisions aiming to outperform benchmarks or meet specific objectives.

The company update did not provide information on the fund’s assets under management, performance history, number of unit holders, or original listing date. The revocation notice was administrative, focusing solely on confirming the delisting mechanics without elaborating on the fund’s history or results.

Immediate Consequences for Investors Holding HHIF Units at Market Close

Investors holding units in HHIF at the close of trading on 1 July 2026 will find their units are no longer tradable on the ASX. This removes the ability to buy or sell units via brokers on the exchange. The units may continue to represent legal interests in the fund’s underlying assets, subject to any wind-up or redemption processes initiated by the responsible entity.

The update did not disclose the last traded price, net asset value per unit, or guidance on compensation or exit options. Investors uncertain about their holdings should consult their brokers, financial advisers, and Equity Trustees Limited to understand available options following the delisting.

Distinguishing Revocation from Suspension or Regulatory Enforcement

It is important to differentiate this voluntary revocation initiated by the responsible entity from trading suspensions or halts imposed by ASX Supervision or ASIC due to regulatory concerns. The company update clarifies that Equity Trustees Limited requested the revocation under an established operating rule, indicating a planned action rather than a response to misconduct, non-disclosure, or financial distress.

This distinction suggests the fund’s wind-down may be managed in an orderly manner under the responsible entity’s oversight. However, no confirmation or financial details were provided. Investors should consider this announcement as an initial notice and seek further information.

Context Within the Shariah-Compliant ETF Market and Potential Implications

HHIF operated within Australia’s niche but expanding Shariah-compliant investment sector, catering to Muslim investors seeking products aligned with Islamic principles, which exclude investments in interest-based finance, alcohol, tobacco, weapons, and similar industries. Hejaz Financial Services is a notable provider in this space, offering a range of superannuation, home finance, and investment products compliant with these requirements.

The delisting of HHIF does not necessarily indicate broader challenges for the Shariah-compliant sector or Hejaz Financial Services as a whole. The update pertains solely to this ETF and Equity Trustees Limited’s actions as responsible entity. Whether Hejaz plans to introduce replacement products, restructure its ETF offerings, or exit the listed ETF market was not addressed. Industry watchers should look for future announcements from Hejaz or Equity Trustees Limited.

Next Steps and Important Dates for HHIF Unit Holders

Following the revocation, unit holders should await formal communications from Equity Trustees Limited regarding the fund’s wind-up or redemption process. Under Australian managed fund practices, the responsible entity must act in the best interests of unit holders and comply with the fund’s constitution and Corporations Act requirements during asset distribution.

No dates for wind-up meetings, redemption pricing, or distribution timelines were disclosed. Investors are encouraged to register their contact details with Equity Trustees Limited to receive official notices and documentation. The next key update will outline the process for returning capital to unit holders.

ASX Supervision’s Administrative Role in the Delisting Announcement

The update confirming HHIF’s trading status revocation was issued by ASX Supervision, the ASX division responsible for market integrity and compliance. Its role was administrative—to implement the request from Equity Trustees Limited and inform the market. The announcement’s brief, factual tone reflects this administrative nature.

ASX Supervision did not report any misconduct, regulatory issues, or non-compliance related to the delisting. The notice only confirmed the date, rule invoked, and requesting party, consistent with standard voluntary ETF delisting procedures and not indicating any adverse regulatory findings against the fund, its manager, or responsible entity.