Islamic Fund Management
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Table 2.7: Proportion of SRI Assets Relative to Total Assets Managed (2014-2016)
Region 2014 2016
Europe 58.8% 52.6%
United States 17.9% 21.6%
Canada 31.3% 37.8%
Australia/New Zealand 16.6% 50.6%
Asia ex Japan 0.8% 0.8%
Japan - 3.4%
Global 30.2% 26.3%
Source: GSIA (2016)
The RFI Foundation states that ‘collectively, responsible finance represents about one-third of
all financial assets globally’.2 Islamic finance assets are described as representing a major
source of growth for the responsible finance sector, as presented i
Chart 2.5: Relative Size of Responsible Finance Assets (2007-2016)
Source: RFI Foundation
Encouraging regulatory developments, multilateral development bank (e.g. World Bank,
Islamic Development Bank) initiatives and the growing recognition of Islamic-ESG values by
asset managers are giving a boost to responsible finance as a whole (Goud, 2017). The Shariah-
compliant SRI fund sector is also expected to expand by virtue of the burgeoning demand from
2 Source: