US: Growth in the US Islamic fund market in Q4 2025 was highly concentrated in a single asset class of gold holdings – highlighting an increasingly uneven allocation landscape, according to research by the IFN Investor Funds Database.
Just two commodity funds, which increased in value to US$203.33 billion from US$152.18 billion in Q3 2025, dwarfed the performance of equities – often a highlight of US markets – which only mustered marginal AuM growth to US$11.8 billion from US$11.55 billion before, in 15 funds.
Other asset classes remain small – with Sukuk fund AuM up to US$462.84 million from US$402.8 million, real estate rising to US$188.59 million from US$170.33 million, and money market funds gaining to US$361.04 million from US$348.22 million while mixed-asset funds grew to US$11.68 million from US$9.8 million.
Fixed income instruments declined, with AuM falling to US$278.68 million from US$297.13 million. Overall, total AuM of US funds rose 31.2% in Q4 2025 to US$216.43 billion from US$164.96 billion.
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