IslamicFinance.de

Zaheeruddin Khalid, director of portfolio management at Saudi-based Jadwa Investment, said that the mutual funds market is dominated by asset managers backed by commercial Banks. However, in the segregated accounts market, Jadwa Investment is one of the major players along with the big five. He moreover explained that Shariah-compliant products investing in Saudi Arabia have generally had performance similar to the conventional products. Shariah-compliant versions of most conventional products are available in the Saudi market. Most innovations are taking place in the private investment product side instead of the public products (mutual funds) because of higher demand for the former, he added.