IslamicFinance.de

An equity-based and Asean-centric Islamic financial products will be launched by OSK-UOB Islamic Fund Management Bhd being granted the Capital Markets Services Licence by the Securities Commission.

The partnership between UOB Asset Management Ltd (UOBAM) and OSK-UOB Unit Trust Management Bhd (OSK-UOB UTM) will leverage on network capabilities of both parties to scale up their resources and commitment in offering a wider, comprehensive and innovative set of Islamic investment solutions.

The number of High Net Worth Individuals (HNWIs) in the UAE dropped almost 20 percent last year. The growth levels in the Middle East were the lowest of all the regions surveyed in the report and Amir Sadr, head of Middle East Merrill Lynch Wealth Management, said this was evidence that the region had underperformed in 2009. A new study by the Boston Consulting Group (BCG) found that millionaire households owned more than half of the wealth in the Middle East and Africa region in 2009.

Press Release

European Finance House Offshore Sharia Fund Assigned 'AAf/S1+' Fund Credit Quality
And Volatility Ratings

LONDON, May 4, 2010--Standard & Poor's Ratings Services said today that it assigned
its 'AAf' fund credit quality and its 'S1+' fund volatility ratings to EFH Funds SCA
SICAV-SIF - Liquidity Subfund (the "subfund"), a Luxembourg-domiciled U.S
dollar-denominated liquidity fund, managed by European Finance House (EFH). This is
the first Standard & Poor's fund credit quality and fund volatility rating assigned
to an offshore Islamic fund.

Fund credit quality ratings generally reflect our assessment of the level of
protection against losses from credit defaults and are based on an analysis of the
credit quality of the portfolio investments and the likelihood of counterparty
defaults.

Fund volatility ratings generally reflect Standard & Poor's view of the fund's
sensitivity to interest rate movements, credit risk, investment diversification or
concentration, liquidity, leverage, and other factors.

The ratings reflect Standard & Poor's analysis of the subfund's credit quality and

Press Release

Islamic Investors' Risk Tolerance Will Determine Demand For Sharia Fund Ratings,
Report Says

LONDON, May 4, 2010--The economic boom in the Gulf Cooperation Council (GCC) region
has fueled the emergence of Islamic finance in the international market in the past
decade. Revenue growth in this region has particularly benefited the asset
management sector, as Standard & Poor's noted in a report published today (see "Using Fund Ratings To Assess Credit And Market Risks In Sharia Funds").

The Middle East is by far the largest market for Sharia-compliant funds, but
conventional players in Europe, South Africa, and the U.S. have also launched a
number of funds that comply with Sharia law during past years, enhancing their
product range to meet the specific requirements of Islamic investors seeking to
invest in this asset class.

The number of product types remains limited, which Standard & Poor's Ratings
Services believes is largely due to the nascent nature of Sharia funds. Funds also
have to be invested in ways that are permitted under Islamic law. Sharia funds,
unlike traditional bond funds, do not invest in conventional rated fixed-income

Islamic banks are failing to cater for clients' wealth management and estate planning needs, pushing them to rely largely on traditional asset managers, said a report published by Bank Sarasin (BSAN.S) this week.

Bank Sarasin-Alpen (ME) Limited, a subsidiary of Bank Sarasin & Co. Ltd, a leading Swiss private bank announced today the publication of its Islamic Wealth Management Report 2010. The report provides investors with an in-depth overview of the various asset classes in Islamic wealth management along with a synopsis of the market scenario during the past 18 months.

Press Release

The report provides investors with an in-depth overview of the various asset classes in Islamic wealth management along with a synopsis of the market scenario during the past 18 months. The report also explores the concept of estate and succession planning, which Sarasin believes is insufficiently addressed in the Islamic finance industry and is a key element of Sarasin’s Islamic wealth management offering. Finally, the report provides an insight into the bank’s economic outlook for 2010.

The key issues and challenges addressed in the report are:

• how Sharia screening reduced the downside in volatile markets and how it affects the finance industry and investors,
• the behaviour of direct real estate investments in comparison with real estate funds and Sharia-compliant real estate investment trusts,
• the income-related role of Sukuk within Islamic balanced portfolios and the probability of defaults,
• a comparison between various Islamic investment funds ranging from income-oriented to commodity, real estate and equity funds,
• the size and future of the Islamic private equity and venture capital industry,
  
  Source: 

  http://www.sarasin.ch/internet/iech/en/islamic_wealth_report-2.pdf

IslamicFinance.de has created a fanpage on Facebook - for all the users wishing to follow the news abstracts on the Facebook platform. Please join and enjoy!