Islamic alternatives on rise amid Gulf gloom

Amid gloomy investor sentiment and sharia fund redemptions in the Middle East – largely down to the low oil price – Islamic alternative assets was one area that saw expansion last year, according to AsianInvestor research.*    Islamic funds managed by firms in the Middle East fell 8.2% to $28.1 billion, with public equity AUM dropping by a particularly hefty 29% to $7.6 billion. Sukuk and Islamic money-market investments were more stable, but still fell 3.5% to $15.12 billion. (Se…