Tue, Aug 4, 2015
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. Activist News - Celgene says patent-fighting hedge fund manager wants to short its shares[more]

    From Reuters.com: Celgene Corp, one of the world's largest biotechnology companies, has accused U.S. hedge fund manager Kyle Bass of attempting to profit from his attempts to wipe out several major drug patents through his Coalition for Affordable Drugs. The company asked the U.S. Patent and T

  2. Einhorn's Greenlight Capital hedge fund slumps 6.1 percent in July[more]

    From Reuters/Thefiscaltimes.com: Hedge fund mogul David Einhorn's Greenlight Capital slumped 6.1 percent in July and is now down 9 percent for the year after gold, one of the fund's top holdings, tumbled to five-year lows last week. Greenlight notified clients of its returns late on Friday, ac

  3. Performance - Some hedge fund small-cap energy stocks have been free falling, Dan Loeb's simple strategy destroys the market, Baupost lost 1.4% last quarter as energy bargains proved elusive[more]

    Some hedge fund small-cap energy stocks have been free falling From Marketrealist.com: According to a July 28, 2015, Bloomberg article, there was a 34% fall in small-cap energy stocks over the past three months. These shares are tracked by the Russell 2000 Energy Index. Small-cap energy

  4. Legal - Hedge funds hit Rothstein Kass with $75m malpractice suit, JPMorgan questioned on private bank’s hedge fund disclosures, Kijani fund, seized by regulators in Cayman Islands, spotlights risks in lightly regulated market[more]

    Hedge funds hit Rothstein Kass with $75m malpractice suit From Law360.com: Two investment funds have sued Rothstein Kass & Co. PC for at least $75 million, claiming the New Jersey auditing firm committed accounting malpractice by failing to properly scrutinize overblown valuations of the

  5. Assets - Hedge funds are getting smoked by the commodities slump, Global ETF assets could more than double by 2020[more]

    Hedge funds are getting smoked by the commodities slump From Businessinsider.in: The collapse in commodity prices has burnt another hedge fund. Vermillion, a commodity hedge fund backed by Carlyle Group, has seen its flagship fund's assets fall from nearly $2 billion to less $50 million,

 

banner