The total value of public Islamic funds operating around the globe, which are tracked by the IFN Investor Funds Database, passed the US$400 billion mark in the week that began on the 4th November 2024.
Now hovering around the US$404 billion valuation, in terms of total assets under management (AuM), this figure was at US$389 billion ending the previous week.
The significance of this achievement is monumental for the worldwide Islamic assets management industry.
With more Shariah compliant funds making their debuts as well as an overall rise in AuM valuation, prospects look especially bright for the Islamic investments sector. Even more interesting is that the AuM largely excludes Sukuk still outstanding – as these are classified as debt instruments, not assets.
The IFN Investor Funds Database currently tracks 2,363 Islamic public funds across 28 countries, with more being added monthly.
Global Islamic funds by asset class
Source: IFN Investor Funds Database
Top 20 Islamic funds by AuM
| Rank | Fund Name | Fund Manager | AuM (US$ billion) |
| 1 | HSBC UCITS Common Contractual Fund – Islamic Global Equity Index Fund | HSBC Asset Management | 5,337.77 |
| 2 | AHAM Aiiman Money Market Fund | AHAM Capital Asset Management | 3,198.79 |
| 3 | Turkiye Life And Retirement Gold Participation Retirement Investment Fund | Turkiye Hayat Ve Emeklilik | 2,972.31 |
| 4 | Amana Growth Institutional Fund | Saturna Capital | 2,940.00 |
| 5 | SNB Capital Al Sunbullah SAR | SNB Capital | 2,937.84 |
| 6 | Amana Growth Investor Fund | Saturna Capital | 2,690.00 |
| 7 | SNB Capital Saudi Riyal Trade Fund | SNB Capital | 2,522.06 |
| 8 | Al Rajhi Awaeed Fund | Al Rajhi Capital | 1,616.28 |
| 9 | Riyad SAR Diversified Trade Fund | Riyad Capital | 1,562.00 |
| 10 | Al Rajhi Growth Fund | Al Rajhi Capital | 1,344.76 |
| 11 | Alpha Murabaha Fund | Alpha Capital | 1,306.16 |
| 12 | Anadolu Life Retirement Gold Participation Retirement Investment Fund | Anadolu Hayat Emeklilik | 1,285.52 |
| 13 | Ziraat Portfolio Gold Participation Exchange Investment Fund | Ziraat Portfoy | 1,267.14 |
| 14 | Garanti Retirement And Life Gold Participation Retirement Investment Fund | Garanti Emeklilik Ve Hayat | 1,214.37 |
| 15 | Amanah Hartanah Bumiputera | Pelaburan Hartanah Berhad | 1,143.52 |
| 16 | Albaraka Portfolio Short-Term Participation Free (TL) Fund | Albaraka Portfoy | 1,112.55 |
| 17 | Amana Income Institutional Fund | Saturna Capital | 1,090.00 |
| 18 | Kuveyt Turk Portfolio Short-Term Participation Free (TL) Fund | Kuveyt Turk Portfoy | 1,020.36 |
| 19 | Kuveyt Turk Portfolio Money Market Participation (TL) Fund | Kuveyt Turk Portfoy | 994.77 |
| 20 | Principal Islamic Deposit Fund | Principal Asset Management | 992.05 |
Source: IFN Funds Database
