IFN Investor Fund Awards: Benchmarking excellence in Shariah compliant fund management

In a sector defined by rapid innovation and global growth, the IFN Investor Fund Awards stands as a benchmark of transparency and performance within the Islamic asset management landscape.

Rather than relying on arbitrary information, the Awards draw exclusively from the IFN Investor Funds Database using a quantitative framework that rewards consistent outperformance that captures the evolving landscape of Islamic fund management across regions and asset classes.

The awards underscore the depth of expertise among fund managers who continue to navigate complex market conditions while upholding Shariah principles and delivering sustainable returns to investors.

Methodology

The methodology centers on two key metrics – returns and AuM growth – weighted at 80% and 20% respectively – with each category assessed having a minimum of three funds drawn from at least two different fund management companies. Each public fund’s results are normalized against its peers within a defined “cluster” of domicile, asset class, fund type and base currency. This four-dimensional structure ensures that equity funds in Malaysia, Sukuk funds in Saudi Arabia and money market funds in Europe compete fairly within their own market contexts, with adjustments for currency and country risk built in.

Awards are presented at three levels – country, regional and global – reflecting the diversity of the Islamic funds industry. Country awards identify top-performing funds within domestic markets, while regional awards aggregate these results across five key geographies: the Middle East, Asia Pacific, Europe, Africa and the Americas. The Global Awards then spotlight the leading Shariah compliant funds worldwide, celebrating those that have demonstrated resilience and excellence across multiple market cycles.

In line with IFN Investor’s commitment to transparency, the awards process is reviewed annually to account for evolving market conditions, regulatory updates and data integrity standards. For 2025, performance is tracked over a one-year horizon from the 1^st July 2024 to the 30^th June 2025, with a three-year evaluation period to be introduced in 2027 to capture long-term consistency.

By combining data rigor with independent assessment, the IFN Investor Fund Awards provide market participants with a credible reference point for performance benchmarking – reaffirming the strength and maturity of Shariah compliant fund management on a global scale.

The landscape

After a protracted period of high inflation and tight monetary policies, 2025 saw central banks across developed and emerging markets beginning rate cuts and monetary easing, albeit unevenly. As a result, we see inflation gradually stabilizing, lending strength to economic growth expectations which have influenced investor sentiment, therefore, asset allocation strategies. That being said, investors are still vigilant, being cautious in constructing their portfolios across asset classes.

Investment strategies have also been shaped by volatile markets, thanks to persistent geopolitical uncertainty and trade protectionism. Investors have been recalibrating their approach adopting local-for-local strategies as economic conditions vary across regions amid a soft US landing and differentiated monetary policies as well as external shocks experienced in emerging markets and Europe.

Then there is of course the impact of technology and sustainability which has compelled investment managers to shift their paradigms in product engineering and promotion.

But these shifts are in favor of the Islamic investment sector (mostly). The Shariah finance industry including asset management, is on a phenomenal positive trajectory, with analysts projecting it to grow to about US$4.9 trillion this year and US$7.5 trillion by 2028. The funds sector specifically is already managing US$752.81 billion in assets across 2,605 public funds as at Q3 2025, according to IFN Investor data.

The allure of the Islamic funds sector is growing as it captures a wider range of investors including high-net-worth individuals, institutional investors and non-Muslim investors attracted by ethical and socially responsible investment principles, despite liquidity management challenges and regulatory pressures. Not only are we seeing an explosion of products, but we are also seeing new markets – including in Africa and Europe – grow their influence.

Our hats off to the fund managers who’s managed to come out on top – you’ve demonstrated creative product structuring, masterful fund management and inspiring ingenuity. We look forward to honoring your achievements at the IFN Investor Award Ceremony in Dubai on the 14^th April 2026 or the IFN Awards Ceremony in Kuala Lumpur on the 22^nd April 2026

The winners

COUNTRY AWARDS

REGIONAL AWARDS

GLOBAL AWARDS