The fastest growing (and shrinking) sharia fund managers
Last year saw a decline in Islamic assets under management globally, but some firms heavily bucked the trend both on the downside and upside, according to AsianInvestor research.
Islamic assets under management may have declined 12.2% to $84 billion last year, but that figure masked a wide range of successes and failures (see tables below).
Certain fund houses recorded substantial falls. HSBC Saudia Arabia saw the biggest drop in both percentage (36%) and absolute AUM ($1.34 billion) terms, while RHB Asset Management suffered the biggest decline among Malaysian firms.
Negative sentiment – particularly on emerging markets – was partly to blame, as was the…
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