Islamic industry hits $58bn
Global Islamic fund assets under management (AuM) advanced 7.6 % to $58 billion in 2010, with concentration in equities accounting for 39 per cent of the assets, but fetching new money into equities is demanding and difficult.
The growth is owed to market performance and partially on account of new money inflows.
The year 2010 was a record for Sukuk having issuance of $50bn.
The addressable world for Islamic fund managers is beyond $500bn, growing by 10-15pc annually. In the GCC, for example, liquid wealth of Sharia sensitive investors is anticipated to add more than $70bn to Islamic funds by 2013.
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