GLOBAL: Saudi-based SEDCO Capital’s three Shariah compliant funds totaling EUR480 million (US$589.77 million) are among those that attracted healthy inflows in May 2012, amid a wider backdrop that saw European investors withdrawing EUR13.1 billion (US$16.1 billion) from equity funds, according to a report conducted by Lipper.
The European funds industry recorded total redemptions of EUR3.6 billion (US$4.42 billion) during the month, reducing the total for year-to-date net sales to EUR108.8 billion (US$133.68 billion).