MALAYSIA: Aberdeen Asset Management sees growing interest in Shariah compliant investments on the back of positive industry growth trends and increasing appreciation for the value of Islamic funds.
“We are confident that there will be even stronger growth. There has been a lot of change, especially in the way Shariah investments are being used to position the local funds industry internationally,” said Gerald Ambrose, the managing director of the Malaysian arm of the Aberdeen Asset Management Group, which manages over RM5.5 billion (US$1.73 billion)-worth of investments in Malaysian equities.
The firm has also been growing its staff in Malaysia to oversee fixed income macro and credit, including Sukuk.
Ambrose also said that the firm aims to source funds from a wider base going forward, including from retail funds. The firm’s investment mandates now comprise those from public institutions.