Fri, Oct 24, 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

Banner

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. Commodities - Oil wreaking havoc on small-cap energy stocks sliding 36%[more]

    From Bloomberg.com: Owning almost anything in the U.S. stock market has been a losing proposition since September. Owning smaller energy companies has been a catastrophe. Hercules Offshore Inc. and Resolute Energy Corp. are among 19 oil-and-gas equities in the Russell 2000 Index that lost more than

  2. Investing - Hedge funds favor equity long/short, Strategic bond managers hedge against further high yield sell-off[more]

    Hedge funds favor equity long/short From Securitieslendingtimes.com: Equity long/short strategies will generate good returns for hedge funds in the future, according to a panel at this year’s Risk Management Association Conference on Securities Lending in Naples, Florida. Panellists Sand

  3. Legal - Ex-hedge fund analyst weeps as judge hands down 5 year sentence, Former Columbus investment manager Steven P. Moore indicted on theft charges, SEBI confirms ban for Hong Kong hedge fund, SEC announces enforcement action against compliance officer[more]

    Ex-hedge fund analyst weeps as judge hands down 5 year sentence From Hereisthecity.com: An ex-hedge fund analyst was sentenced to 5 years in prison for his role in insider-trading scheme. The New York Post reports that former hedge fund analyst Matthew Teeple was sentenced Thursday to fiv

  4. Goldman in talks to acquire IndexIQ[more]

    From Bloomberg.com: Can Goldman Sachs put ETF investors on a liquid diet? Goldman is in talks to acquire IndexIQ, Reuters has reported. Index IQ is a small exchange-traded-fund firm known mostly for products that replicate hedge fund strategies, called "liquid alternative" ETFs. While IndexIQ has 11

  5. Other Voices: CALPERS dilemma should be a warning to hedge funds wanting institutional investors[more]

    From Ian Hamilton, founder of IDS Group. A quick comment on the CALPERS’ disinvestment from the hedge fund market and the jitters it is causing. Pension Funds should not be sheep and follow CALPERS’ decision as the issues that CALPERS has with hedge fund investments are in many ways unique t