Monday 25, May 2009 by
Islamic funds growth stalls but investable assets grow, says E&Y
The third annual Ernst & Young Islamic Funds & Investments Report (IFIR 2009) says that Shari’ah sensitive investable assets in 2008 in the GCC and Asia touched $736 billion compared to $267 billion in 2007 (in computing the total asset size this year, the report included Awqaf and Endowments, Takaful operators in Malaysia, SWFs in the MENA region and Asia, and it also includes the markets of Pakistan and South East Asia - all of which where not included in last year’s figures). This, says E&Y, translates into a potential annual revenue pool of $3.86 billion for the Islamic asset management industry. Fund sizes however, remain small, with over 50 per cent having assets under management of $20million or less.
