Fri, Jul 25, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Islamic compliant ETF firm seeks investment to build international business

Thursday, May 31, 2012

Beverly Chandler, Opalesque London: According to industry sources, Saeid Hamedanchi, Chief Executive Officer of ShariahShares,is preparing the launch a family of Shariah compliant ETFs on the US and European Exchanges. Founded in 2010, ShariahShares is a California based provider of Islamic Shariah compliant investment products and solutions. In addition to its core business of ETFs, ShariahShares plans to develop its capabilities to offer Shariah compliant investment management to managed accounts.

Global markets for both Islamic Funds and ETFs are expected to grow strongly over the coming years. According to Eurekahedge, the Islamic funds market is projected to grow by 25% per year until end of 2013 and Islamic Fund assets under management in July 2011 stood at $77bn.

The GCC region has a population of 42 million (including expatriates) and a developed and growing market for Islamic Shariah compliant investments, combined with a high GDP per capita by global standards.

ShariahShares estimates that there are some 6-10 million Muslims in the US with an average household income of $58,500, against the average household’s income of $48,100. They report that 66% of Muslim households have an income greater than $50,000; 26% of Muslim households have an income greater than $100,000 and 58% are college graduates, while 10% hold PhD or MD degrees. According to Islamic Finance experts, there is very limited competition in the US market for Shariah funds.......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing
  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Events – AIMA Australian Hedge Fund Forum, Sept. 16, Sydney[more]

    AIMA Australia invite you to join us at our annual Hedge Fund Forum on Tuesday 16th September 2014 at the Sofitel Sydney Wentworth. The AIMA Australian Hedge Fund Forum is a non-profit hedge fund conference organised by the industry for the industry, featuring quality Australian and internation

  2. Opalesque Roundtable: Success in hedge fund marketing not linked to performance, but investor appetite[more]

    Komfie Manalo, Opalesque Asia: Success in marketing a fund is not linked to the performance, but to investor appetite, to the way you can market the fund, and to how much time you can spend to raise assets, said Antoine Rolland, the CEO of incubator and seeding firm

  3. Opalesque Exclusive: Loeb, Grantham cite growing economic concerns in letters[more]

    Bailey McCann, Opalesque New York: Hedge fund manager Daniel Loeb, head of Third Point, and Jeremy Grantham of Grantham, Mayo, Van Otterloo & Co. have both released their quarterly investor letters today. While news is positive on some fronts, and both men see pockets of opportunity, they also h

  4. Investing – Hedge funds expect Netflix earnings to catapult forward, Third Point's Loeb takes stakes in Fibra Uno, YPF, Royal DSM, Lake Capital in talks to back Engine Group[more]

    Hedge funds expect Netflix earnings to catapult forward From Investing.com: Netflix has made major strides forward in 2014 despite ongoing battles with the FCC and cable companies over the issue of net neutrality. The FCC has now received over 500,000 comments from the public on its pend

  5. Hedge fund manager Winton Capital making headway with long-only strategy[more]

    From PIonline.com: North American investors are helping Winton Capital Management Ltd. make progress — albeit slowly — toward its founder's goal of becoming a $100 billion company. The firm's ticket to quadrupling its assets under management is unlikely to be one of its scientifically designed manag