Abu Dhabi-based Islamic finance firm ADCorp is working with US active asset manager Sands Capital to develop a sharia-compliant portfolio of funds for its investor base.
The partnership is designed to build on the growing popularity of sharia-compliant financial products in the region.
Research from Thomson Reuters forecasts that global assets under management in Islamic funds will grow from $110 billion in 2017 to $325 billion by 2023.
According to ADCorp, its clients will benefit from Sands Capital’s “subtle capabilities” in investment management.
“This new partnership brings together ADCorp’s unparalleled access to the growing Islamic asset management market from our base in ADGM with Sands Capital’s track record of delivering enviable returns,” said Mohammed Al Khaja, chief executive of ADCorp.
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