IslamicFinance.de

Despite the fact that Zawya only covers Middle East-based funds, the sector is popular especially in Saudi Arabia, where 22 of the 24 funds listed are domiciled. The other two funds are from Kuwait and Bahrain.
There are two types of multi-manager funds: those that invest in a range of other funds controlled by different asset managers, named funds of funds, and those that appoint external managers with specific expertise to invest separate tranches of the provider’s portfolio, called manager of managers funds.
Analyzing funds of funds, it seems that there is a lot of interest in global Shari’ah compliant funds-of-funds (41.7%). Top performer is the $15.2m Al-Rajhi Multi Asset Conservative fund, managed by Mohammed Ishaq Ali of Al Rajhi Capital.