GLOBAL: Islamic funds have been slow to develop in terms of sophistication and market depth, due to a shortage of investment opportunities, said KFH Research in a new report on wealth and fund management.
Nonetheless, assets under management of Islamic funds have risen to US$64 billion as at the end of October this year, from US$29.2 billion in 2004, with the number of Islamic funds growing to 1,029 from 285 during the period.