The share of AUM in Malaysian sharia-compliant mutual funds has declined from the peak of 40.7% in March 2016 to 39.4% in March 2017, according to data from Morningstar.
The Irish unit of Malaysia-headquartered CIMB-Principal Islamic Asset Management has launched its first global sukuk Ucits fund.
The firm aims to get its funds on the shelves of key private bank distributors for the wholesale segment, and it has made key senior hires this year to drive efforts.
Malaysian equity funds appear set to end the year with weak returns against a backdrop of low commodity prices and souring investor sentiment.
Returns from nearly all Asia ex-Japan equity funds have moved into negative territory after the recent sell off in Asian equities.
Citibank (M) Berhad has entered into an agreement with CIMB-Principal Asset Management Malaysia‚ becoming the first foreign bank in the country to distribute private retirement scheme solutions.