Financial Outlook of the OIC Member Countries 2017
37
Figure 35: Top Countries in Islamic Funds AUM Outstanding (2015) (Million US$)
Source: Thomson Reuters
Despite the negative economic environment such as volatile global financial markets, decline
in commodity prices, there is an important effort from Southeast Asia to develop Islamic fund
market. Malaysian government has put a Shariah-compliant scheme in place for its retirement
savings fund (The Employees Provident Fund-EPF) which invests in Islamic finance assets,
particularly sukuk. In addition, Asian asset managers such as Malaysia’s RHB Group Asset
Management and Indonesia’s PT Mandiri Manajemen Investasi are also planning to launch new
Islamic funds in the near future.39
Figure 36: Islamic Fund Assets by Asset Class
Source: IFSB
In terms of asset-class breakdown of the global Islamic funds, the share of equity-based funds
is 43% in 2016. Furthermore, the share of money market-based funds accounting for 25% and
commodity-based funds accounting for 12%. The other significant asset classes include fixed
income/ sukuk, mixed allocation and real estate (Figure 36).
39 ICD – Thomson Reuters Islamic Finance Development Report 2016, page 74
0
5.000
10.000
15.000
20.000
25.000
Saudi Arabia Malaysia Iran United
States
Luxembourg Kuwait Pakistan South Africa Indonesia UK
0 5 10 15 20 25 30 35 40 45
Alternative
Real Estate
Mixed Allocation
Fixed Income / Sukuk
Commodity
Money Market
Equity