Funds Hub
Money managers under the microscope
Morning Line-Up: Toscafund, Wellcome Trust, Islamic finance
News and views on the fund industry from Reuters and elsewhere:
US Senate close to new anti-bail-out deal - Reuters
Gulf banks eye Islamic finance conversion – Reuters
Toscafund seeks 500 mln stg for UK residential mortgage - FT
Wellcome Trust drops RBS branch acquisition plans - Telegraph
from Global Investing:
The best of both worlds?
Combined Shariah and ethical/SRI products could be the way forwards for Islamic finance investing, according to Dr Humayon Dar, CEO at BMB Islamic, the Shariah consultancy at BMG Group.
Speaking at the Reuters Islamic Finance Summit today, Dar highlighted the development of an upcoming F&C fund that will meet both ethical and Shariah investing criteria, and can be sold to both Muslims and non-Muslims. "I see this as the way forward in markets such as Malaysia, where a significant proportion of the population is non-Muslim," he said, adding that once such products have established a track record, it should appeal to a broader audience, and encourage other launches.
