Malaysia, Saudi Arabia remain pre-eminent Islamic fund domiciles worldwide with strong, established local markets, says Fitch Ratings

Assets under management (AUM) in Islamic mutual funds peaked at around US$130 billion at the end of the second quarter of 2021, before declining to about US$120 billion at the end of last year, according to Fitch Ratings. 

In a report titled 'Islamic Asset Management Dashboard: 2021', the rating agency estimated that the growth rate of Islamic funds (84 per cent nominal/13 per cent annualised) has exceeded that of the broader global mutual fund industry (68 per cent nominal/11 per cent annualised).​ 

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