MALAYSIA: Islamic funds have proven to be tougher in comparison to their conventional counterparts, especially during the financial crisis, said experts.
Akmal Hassan, CEO and executive director of Islamic fund management firm Asian Islamic Investment Management (AIIMAN), said that there is sufficient proof that the Shariah compliant funds industry is more resilient, adding that the Hwang AIIMAN Growth Fund grew to RM88.32 million (US$28.73 million) as at the 31st January 2012 from RM36.13 million (US$11.75 million) in 2007.
Furthermore, the Islamic funds sector is expected to grow exponentially in the next few years; due to the growing number of high net worth individuals globally and increasing interest from developing and emerging economies.
Meanwhile Baiza Bain, a director at Amanie Advisors, noted that as a result of their resilience, almost all Islamic funds outperformed conventional funds during the global financial crisis, illustrating sound investment practice.