NBAD Asset Management and Franklin Templeton are eyeing more niche sharia-compliant strategies. This comes as the Islamic alternatives space continues to see swift growth.
Islamic asset management
Islamic funds – those managed in compliance with sharia law – are an $84 billion-plus industry, according to AsianInvestor research, that is expected to continue to grow.
The UK bank is seeking a bigger share of the $60 billion market for sharia-compliant funds under management by globally standardising its securities services offering.
Having recently launched two sharia equity strategies, the US asset manager plans to manage more assets out of Kuala Lumpur.
The Malaysian firm is pitching for more institutional mandates and hopes to benefit from money contributed to the state-run Employees Provident Fund being shifted into unit trusts.
The new unit aims to create a stronger focus on the firm's Islamic institutional business, both onshore and offshore.
The Swiss private bank cites its sustainable investment credentials as an advantage when it comes to offering a range of Islamic wealth products.
Dubai WorldÆs request to restructure its debt is likely to reshape the understanding among investors and issuers of who holds the upper hand when it comes to bond-like sukuk.
FTSE and the Stock Exchange of Thailand add the FTSE SET Shariah Index to the marketÆs benchmarks.
Islamic banks are not so different from their conventional counterparts, and this needs to be addressed, finds research from The International Centre for Education in Islamic Finance.
The Malaysian $30 billion state pension plans to make all its portfolios 100% sharia-compliant and may reduce its performance target in light of prevailing low yields.
Four foreign houses with onshore operations are targeting sharia product launches after rules were relaxed, in a sign that the country is opening up. Regular mutual funds could be next.
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Tariq Al Rifai's new organisation will focus on how Islamic finance can help solve debt-related issues in financial markets and encourage the take-up of sharia-compliant investing.
