Islamic fund manager reaches $100 million milestone
The fund manager behind the first private Islamic superannuation fund in the world, Crescent Wealth, has passed $100 million in funds under management. The benchmark figure was passed after the Australia-based group reported a 245 per cent growth in funds under management for the 2015 financial year with the group tapping into demand for ethical Islamic investment products. Crescent Wealth launched the first private Islamic superannuation fund in the world in 2013 growing fund members close to ten-fold between the 2014 and 2015 financial years to reach 4200 members, with an expectation of further growth due to interest from overseas investors.
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