Mon, May 30, 2016
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. Performance - Hedge fund ETFs take a battering, Have long-short credit funds delivered?[more]

    Hedge fund ETFs take a battering From ETFStrategy.co.uk: It was a blow for the hedge fund world when Hillary Clinton’s son-in-law Marc Mezvinsky announced he would be closing his Greek-focused fund after it plummeted in value by 90%, just two years after it launched. For passive investor

  2. Ares Capital to buy American Capital in $3.4 billion deal[more]

    From PIOnline.com: Ares Management's business development company Ares Capital Corp. is buying troubled BDC American Capital for $3.43 billion, said a joint news release by the BDCs and another release by Ares Management. Ares Capital Corp.'s assets are expected to grow to about $13.2 billion when t

  3. Launches - Man Group and American Beacon launch new emerging debt fund, Nikko AM launches new Japan equity UCITS fund[more]

    Man Group and American Beacon launch new emerging debt fund American Beacon Advisors, an experienced provider of investment advisory services to institutional and retail markets, launched the American Beacon GLG Total Return Fund today. The Fund became effective May 20. The America

  4. Emerging markets hedge funds perform strongly, but capital base erodes[more]

    Komfie Manalo, Opalesque Asia: Latin American Emerging Markets and Russian hedge funds lead industry gains in the first months of 2016, posting strong performances through April as global and EM equity, commodity and currency markets surged in recent weeks following steep losses to begin the year

  5. Americas - Australian banks sending U.S. hedge funds broke, Ryan Puerto Rico ‘rescue’ bill could be windfall for hedge funds[more]

    Australian banks sending U.S. hedge funds broke From SMH.com.au: US hedge funds are not having the best of years. Profits are hard to find, they're underperforming and the punters are losing patience, withdrawing US$15 billion ($20.8 billion) in the March quarter. They're expected to wit