Fitch Ratings: Islamic fund growth rate outpacing wider market

The growth rate in assets of Islamic funds has exceeded that of the broader mutual fund industry, according to estimates by Fitch Ratings. The firm noted that assets under management in Islamic mutual funds have increased "substantially", peaking at the end of Q2 last year at around $130bn, before falling to around $120bn by the end of the year. Nevertheless, the growth rate for Islamic funds was estimated at 84% nominal and 13% annualised, exceeding the broader global mutual fund industry which saw nominal and annualised growth of 68% and 11% respectively. Islamic finance could be...