UK fund manager to tap Islamic finance mart
KUALA LUMPUR: Britain's fourth largest retail fund manager, Threadneedle Investments, plans to offer a range of syariah-compliant funds in Malaysia.
Threadneedle, which manages US$126.6 billion (RM403 billion) in assets, has appointed a Malaysia-based team that will be supported by its Singapore and London offices, the company said in a statement.
Threadneedle, owned by US Ameriprise Financial, will target institutional investors such as pension funds, insurance companies and government-linked entities.
"We aim to make Threadneedle a centre of excellence for Islamic finance in Malaysia," said Raymundo Yu, the firm's Asia-Pacific chairman.
"This is an important strategic milestone for Threadneedle and further demonstrates our commitment to building a truly client-focused business for investors across Asia."
Total Islamic assets under management in Malaysia reached RM79.6 billion last year. Reuters