GLOBAL: Equities remained the largest asset class segment in Q2 2025 for Shariah compliant public funds in the African continent, with total AuM rising 13.08% to US$2.12 billion from US$1.84 billion in Q1 2025.
Coming next was the mixed assets category, where total AuM increased just 1.31% to US$1.25 billion from US$1.23 billion previously.
Overall, Islamic funds in Africa grew 7.7% in the second quarter of 2025 to US$3.82 billion from US$3.52 billion. The region is home to 89 funds, with equities (35 funds) and mixed assets (31 funds) making up the majority.
South Africa came out top, accounting for 50 funds and US$3.15 billion in AuM - posting a 9.08% increase from US$2.86 billion in the previous quarter. Kenya was ranked second with nine funds and US$522.19 million in AuM, up 0.98% from US$517.09 million.
Rounding off the top three spots was Nigeria with 14 funds totaling US$76.41 million, with total AuM down 0.91% from US$74.84 million.
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