Not all fund managers are equal – with some 2,000 investment managers involved in the Shariah space across the globe, the IFN Investor Fund House Awards – through an independent Awards Board – evaluate and honor the most outstanding managers who have demonstrated disciplined execution and exceptional strategies to deliver optimal returns to investors while respecting Shariah boundaries.
This submission-based awards feature 19 categories, all recognizing performance and ability at firm-level, not individual funds, to drive investor outcomes as well as meaningfully contribute and shape the Islamic investment landscape during the July 2024 to June 2025 period.
Our heartiest congratulations to all winners!
Best Islamic Fund House for Institutional Investors – SEDCO Capital
Serving the Islamic institutional segment is no easy task due to challenges surrounding stringent Shariah compliance requirements, limited investment universe and higher operational complexities. A number in each region do it with great flair and finesse, but it is Saudi Arabia’s SEDCO Capital which stands out this year as the best-in-class Islamic fund manager for institutional investors.
Managing over US$12 billion in assets through over 20 Islamic funds, most tailored to the institutional market, SEDCO Capital leverages its deep industry expertise built over a decade of solid track record, and combines this with its ethical investment philosophy and diversified product offering to serve investors in Saudi Arabia and beyond through its Luxembourg specialized investment fund platform, which extends its global reach across the Americas, Europe, Asia and emerging markets.
It continues to scale strategies across the public and private markets with at least three new funds in the last year: the SEDCO Capital IPO Fund, the SEDCO Capital Global Technology Equity Feeder Fund and the SC Multi Asset Traded Fund – underscoring the firm’s commitment to diversification to meet varied institutional demand while integrating ESG principles and complying with Islamic principles.
Honorable mentions: HSBC Asset Management, State Street Global Advisors
Best Islamic Fund House for Retail Investors – Hejaz Financial Services
The Islamic retail fund space is incredibly competitive with many vying a slice of the mass market. Spotting the star player in a field of talent is not necessarily a game of largest AuM or the greatest number of funds, but a matter of how well the investors are served and continuous efforts to enhance the retail proposition.
In 2025, the honor of Best Fund House for Retail Investors goes to Hejaz Financial Services for its unwavering commitment and disciplined strategy execution to optimize its offerings for everyday Australian Muslims. Mainstreaming Islamic finance is hard enough in a world where conventional instruments are king, but it is even more challenging in non-Muslim markets where Shariah affinity and awareness are low and regulations unsupportive.
Yet, despite the absence of dedicated Islamic policies, Hejaz has launched a broad range of products, pioneering several including Australia’s first listed Islamic ETF and its Halal Money app for a better investor digital experience.
Over the past year, the firm strengthened its portfolio by broadening its global equity capability beyond plain-vanilla screens to integrate systematic tilts (quality, profitability and defensive low-volatility) while maintaining AAOIFI-aligned business and financial-ratio filters to reduce drawdowns and improve risk-adjusted returns versus cap-weighted peers.
It also introduced multi-asset model portfolios – combining a volatility-aware glidepath with ETF building blocks such as equity, cash and Sukuk to give advisers plug-and-play Islamic portfolios across risk profiles while minimizing product overlap and fees.
By using a barbel approach – short-duration high-quality Sukuk for stability and selectively longer issues for carry – paired with liquidity sleeves, Hejaz managed to enhance Sukuk income for investors. Concurrently, Hejaz broadened its dealer panel and used multiple pricing sources to circumvent challenges in price discovery and thin secondary market activities.
These initiatives follow the rollout of two ETFs providing retail investors exposure to local and international equities. Testament to its dedication to better serve the retail market, Hejaz continues to educate the public and clients through webinars and bilingual educational content.
Honorable mentions: Al Meezan Investment Management, Al Rajhi Capital
Best Islamic Commodity Fund House – Kuveyt Turk Portfoy
The Best Islamic Commodity Fund House for 2025 was selected for its innovation and pioneering work in the space rather than size. Kuveyt Turk Portfoy, one of the most recognizable names in Islamic asset management in Turkiye, manages several commodity funds (including precious metals and energy), but its shining gold fund, which contributed significantly to the firm winning this title, deserves special mention.
The firm expanded its Kuveyt Turk Gold Participation Fund (KZL) into internationally priced Shariah compliant gold-backed instruments to enhance its exposure to global gold market dynamics over the past year, coinciding with renewed demand for precious metals as inflation hedges amid global economic uncertainty and regional tensions.
Despite logistical challenges in sourcing physical gold domestically, the fund maintained liquidity through its partnerships with certified gold custodians and participation-based financial institutions. In addition, KZL executed a Shariah compliant gold swap transaction in collaboration with participation banks — a structure rarely implemented globally – further improving liquidity management and return efficiency.
Although gold participation funds are not entirely new in Turkiye, KZL’s innovation lies in its holistic integration of technology, Shariah governance and investor accessibility. The fund enables seamless conversion from customers’ existing gold accounts, allowing investors to transition their physical or account-based gold holdings into a regulated, Shariah compliant investment vehicle. A groundbreaking feature introduced by Kuveyt Turk Portfoy has been the ability for investors to trade fund units directly in gold terms, rather than Turkish lira. This innovative mechanism – implemented within the Capital Markets Board regulatory framework and realized through collaboration with Kuveyt Türk Participation Bank, Borsa İstanbul and Takasbank – has generated remarkable market interest and translated to a 129% year-on-year (y-o-y) jump in AuM.
Over the review period, KZL achieved an impressive one-year return of approximately 97.5%, reflecting both the resilience of gold prices and the efficiency of Kuveyt Turk Portfoy’s portfolio strategy. The fund’s success is also driven by its digital-first distribution model, which leverages Kuveyt Turk’s mobile and online platforms to facilitate real-time transactions and accessibility for a wide investor base.
Honorable mentions: Invesco Capital Management, Absa Bank
Best Islamic Equity Fund House – Public Mutual
It should not be any surprise that the Best Islamic Equity Fund House title is awarded to the world’s most sophisticated Islamic equity market’s most dominant asset manager in the Shariah fund sector – Malaysia’s Public Mutual.
With at least 68 Islamic funds, 38 of which are equity offerings, Public Mutual is Malaysia’s largest private unit trust company, commanding more than half of the Islamic fund market share with a growing AuM of approximately RM51 billion (US$10.8 billion).
There is strength in numbers, but Public Mutual’s key advantage to investors is its sheer diversification and exemplary management. Its equity offerings span from classic local stocks to exposure to ASEAN and farther afield like China, and more trendsetting segments including ESG-oriented equities, technology and pioneering enterprises.
In the last year, the fund manager brought to market at least two more equity funds: the Public Islamic Sustainable Growth Fund and Public e-Islamic India Global Equity Fund, further expanding and diversifying its portfolio. In addition to new funds, Public Mutual also delivered exceptional returns to its investors, with nearly half of its Shariah equity funds reporting healthy double-digit returns, anchoring Public Mutual as the Best Islamic Equity Fund House of 2025.
Honorable mentions: SNB Capital, GIB Capital
Best Islamic ESG Fund House – BIMB Investment Management
The Best Islamic ESG Fund House category this year is characterized by resilience. At a time when the anti-ESG movement grows stronger as matters related to the environment and sustainability are being politicized for political capital in the West, Islamic ESG funds persevered, and one fund house embodied such fortitude – BIMB Investment Management.
After a period of market turbulence which adversely impacted returns, BIMB Investment marked 2025 with an impressive rebound for its BIMB-Arabesque Malaysia Shariah-ESG Equity Fund which recovered approximately 60% by one-year trailing returns as of June 2025 after dropping to -14.76% in 2024. Meanwhile, its BIMB ESG Sukuk Fund outperformed the market clocking in a 7.42% return year-to-date (YTD).
BIMB’s market-leading SRI Waqf fund – the Marmur myWakaf Fund – continues to outperform conventional funds – it delivered returns of 14.06% for the RM class, 17.24% for the US$ class and an outstanding 28.26% for the AU$ class in the previous financial year.
While BIMB Investments’ Shariah ESG funds may not be as big others (for example, BlackRock’s US$10 million Premier Systematic Islamic ESG World Equity Fund), the Malaysian fund manager was one of the earliest to officially combine ESG and Shariah metrics in a fund, successfully bringing to market multiple funds across a diverse range of asset classes including Waqf, Sukuk, technology and equities with global, Malaysian and Asia Pacific flavors, demonstrating originality and creativity in addressing sustainability challenges.
It currently manages seven SRI funds and intends to launch at least two new funds annually to meet evolving investor needs.
Honorable mentions: HSBC Asset Management, BlackRock
Best Islamic ETF Fund House – Albilad Capital
In the fast-growing realm of Islamic ETFs with global managers and boutique firms rushing to capitalize on the demand-supply mismatch, one firm stood out this year – Saudi Arabia’s Albilad Capital, owing to its market dominance, innovative launches and strong AuM growth.
The firm has amassed over US$1.5 billion in assets under its seven ETFs (two of which were listed over the last year), capturing about 64% of the Saudi ETF market and about 52% of GCC ETF market capitalization – making it the largest ETF provider in the region, even beating conventional issuers.
The Albilad CSOP MSCI Hong Kong China Equity ETF made history in October 2024 as the largest ETF offering and listing in MENA having raised SAR4.49 billion (US$1.2 billion). It followed on with a significant partnership with Public Investment Fund as anchor investor for its latest offering, the Albilad MSCI Saudi Equity ETF, which was the Kingdom’s first broad-market Shariah ETF tracking over 250 MSCI Saudi Arabia companies. Its pioneering spirit is also seen years earlier with it launching the region’s first Shariah compliant gold ETF.
Honorable mentions: Lunate Capital, HSBC Asset Management
Best New Islamic Fund House – ASB Capital
The allure of the dynamic Islamic investment space has attracted numerous new players – from full-fledged Shariah fund managers to conventional managers – but it is ASB Capital which has proven its mantle as the Best New Islamic Fund House for 2025.
The wholly owned subsidiary of Bahrain’s Al Salam Bank opened its doors last year and within its first year of operations, launched a unique multi-asset funds program, encompassing strategies from fixed income to public equities and private assets, providing investors the building blocks to build cross asset-allocation strategies. The program had an AuM of over US$45 million as of the end of June 2025. Offering bespoke asset and wealth management solutions, the firm manages some US$5 billion in assets in total.
Launched under Dubai International Financial Centre’s innovative Protected Cell Company structure, the funds have been passported in the GCC, broadening access to both institutional and retail investors.
During the review period, the Dubai-based firm introduced two funds under the program, covering global Sukuk, equities and technology stocks, allowing investors to build diversified portfolios which will preserve capital during stress times and deliver steady income as well as competitive risk-adjusted returns over rolling horizons.
The funds have mostly outperformed their benchmarks since their launch and gained promising traction, placing the firm on a strong foothold.
Honorable mentions: Premia Partners, Emerging Africa Asset Management
Best Islamic Fixed Income Fund House – Al Meezan Investment Management
In an investment landscape defined by volatility and shifting interest rate cycles, Al Meezan Investment Management proves why it stands at the pinnacle of the Islamic fixed income industry – it is Pakistan’s largest Islamic asset management company, managing approximately PKR600 billion (US$2.13 billion) in AuM as of mid-2025 and serves a growing investor base of over 450,000 investors.
Al Meezan Investment Management’s recognition as the Best Islamic Fixed Income Fund House is rooted in its decade-long track record of outperformance, prudent risk management and ability to deliver competitive, stable returns through both high-interest and transitional rate environments. Its fixed income portfolio features six core income funds and variants under Meezan Daily Income Fund as well as numerous allocation plans under Meezan Fixed Term Fund.
Across its flagship fixed income funds, the firm has delivered double-digit annualized returns, consistently surpassing industry benchmarks – the Meezan Islamic Income Fund has registered a 12.54% return versus a 10.37% benchmark; Meezan Cash Fund posted 13.34% against 9.93% market average; while its Meezan Daily Income Fund and variants consistently deliver 20-22%, outperforming the benchmark of approximately 10%.
These results reflect a disciplined investing approach leveraging high-quality Sukuk, government securities, Islamic bank placements and carefully managed tenors to deliver superior risk-adjusted outcomes, which have contributed to its impressive near 40% market share.
Honorable mentions: Faysal Asset Management, Saturna Capital
Best Islamic Real Estate Fund House – Jadwa Investment
Real estate – one of the industry’s most favored real asset class – has a new champion: Saudi Arabia’s Jadwa Investment, which manages at least 36 real estate funds and over SAR75 billion (US$20 billion) in client assets.
With a track record spanning almost two decades, Jadwa Investment has built itself to become Saudi Arabia’s largest manager of REITs, operating four Shariah compliant REITs backed by income-generating assets across Riyadh, Jeddah and Mecca including residential compounds, hotels, commercial buildings, and mixed-use developments.
Few firms matched Jadwa’s pace of expansion during the July 2024 to June 2025 period; the firm launched 18 new real estate development funds, expanding its five-year total to 36 funds worth SAR19.05 billion (US$5.08 billion). These new funds target residential, commercial and mixed-use projects, with a strong focus on Riyadh’s fast-growing urban landscape. It also expanded its REIT portfolios through targeted acquisitions including two new properties in Mecca and new office and hotel buildings in Riyadh, while optimizing holdings through strategic disposals.
The flagship Jadwa REIT Saudi Fund maintained a strong portfolio with SAR2.27 billion (US$605.33 million) in assets as of June 2025, while paying 2% quarterly dividends on the back of a SAR45.9 million (US$12.24 million) net profit as rental income rose 9%. Meanwhile, its Jadwa REIT Al Haramain continued delivering stable returns with 2.4% dividends for H2 2024 and H1 2025, and occupancy rising to 87%.
Honorable mentions: DHAM REIT Management, Albaraka Portfoy
Best Islamic Thematic Fund House – RHB Asset Management
Thematic funds play a crucial role in providing investors the opportunity to target long-term megatrends and potential outperformance beyond traditional sector or market cap strategies. Managing one to deliver alpha despite concentration risks requires a manager who can spot opportunities in emerging trends and is agile at rebalancing portfolios to mitigate risks. This year, RHB Asset Management takes home the crown of Best Islamic Thematic Fund House.
Counting at least three thematic Islamic funds, it is the RHB i-Sustainable Future Technology Fund which stood out. It grew by approximately 107% y-o-y to RM59.02 million (US$14.28 million) as of H1 2025, on the back of an 8.73% return (for USD class), outperforming the benchmark of 5.78% by carefully deploying investments into Shariah compliant tech companies contributing toward developing a sustainable economy.
The asset manager, which manages about US$1.12 billion in assets, continued its thematic focus by launching the RHB i-Asia Pacific Wellness Fund in July 2024 dedicated to Shariah compliant equities related to the well-being of individuals. This broadens RHB Asset Management’s thematic portfolio which also includes a sustainable disruptors fund, which has performed broadly in line with its benchmark.
Honorable mentions: SAB Invest, Maybank Asset Management
Best Waqf Fund House – Al Rajhi Capital
As Islamic asset management continues to mature globally, few institutions have demonstrated the scale, discipline and purpose-driven innovation shown by Al Rajhi Capital in managing Islamic endowments.
Few, if any, match Al Rajhi Capital’s portfolio of Waqf funds as far as size, number and diversity are concerned – the firm has nurtured one of the region’s largest and most varied Islamic endowment investment platforms with 12 funds and nearly US$100 million in endowment assets supporting causes such as autism, orphan care, pilgrim services, healthcare, Quran memorization and general community welfare. In the last year alone, the firm rolled out two Waqf funds, following another two earlier in 2024.
Al Rajhi Capital’s deliberate design of these funds – low-to-moderate risk, daily valuation, nil subscription fees, minimum investment of SAR1 (US$0.26) – reflects a clear mission: make socially conscious investment accessible, transparent and scalable for the benefit of the increasingly sophisticated Ummah. The firm has also integrated its Waqf offering into its digital advisory and investment platform, essentially institutionalizing this professionally managed asset class to meet the demands of today’s investors.
Honorable mentions: Alinma Investment, Kenanga Investors
Best Islamic Private Equity Fund House – Gulf Islamic Investments
With a diversified portfolio and global ambition, Gulf Islamic Investments (GII) has not only set the benchmark for the year – it has set the direction for the future of Islamic private equity (PE).
The period from mid-2024 through 2025 reflects one of the most active dealmaking cycles in GII’s history. It secured US$100 million in new growth capital from key investors including the Al Nahdi family office and Shurooq. This capital injection strengthened its ability to deploy Shariah compliant PE across Saudi Arabia and the broader GCC.
From joining a Brookfield Asset Management-led consortium to invest in GEMS Education, one of the world’s largest K-12 private education providers, to building its healthcare portfolio through majority and significant stakes in Al Meswak Dental Clinics and Abeer Medical, these are a handful of deals cementing its status as the leading Shariah compliant PE institution.
Over the last year, GII also formed a US$300 million joint venture to scale Saudi logistics and warehousing infrastructure – directly supporting Vision 2030’s supply chain transformation; acquired UK Islamic home finance platform OFFA; and exited its majority stake in GRID Properties while an edutech firm it backed – zSpace – went public on Nasdaq.
An active global portfolio, forward-looking business acumen and thoughtful execution merits GII’s recognition as the Best Islamic Private Equity Fund House of 2025.
Honorable mentions: Arcapita, Investcorp
Most Innovative Islamic Fund House – JS Investments
Innovation may be an all-encompassing dimension that could range from creativity in product engineering to adeptness in market distribution or optimizing daily operations; this year’s Most Innovative Islamic Fund House trophy goes to JS Investments (JSIL) from Pakistan thanks to a series of breakthrough innovations.
At the forefront was the JS Hotel REIT, the country’s first Shariah compliant hospitality REIT, anchored by the Hilton Garden Inn Hyderabad. This yield-focused vehicle offers stable dividends through lease-backed cash flows and long-term brand value appreciation, opening the hospitality sector to Islamic investors for the first time. Its structure not only expands the boundaries of permissible investments but also advances sustainability, economic diversification and job creation.
Its innovative Digital Wealth Centers in Karachi, Lahore and Peshawar blend personalized advisory services with interactive digital tools, making financial planning accessible, engaging and inclusive. Complementing these are digital platforms like Zindigi and Sehl, along with strategic collaboration with BankIslami, which collectively extend Shariah compliant investment solutions to underserved regions.
The firm also made major progress on two new Shariah compliant product lines – Islamic Sarmaya Mehfooz Plans and Islamic Fixed-Term Munafa Plans which is set to launch in the 2026 financial year.
Building on its earlier leadership having launched Pakistan’s first Smart Beta ETF and Microfinance Sector Fund, JSIL is now designing Islamic frameworks for these segments. The firm’s goal is to integrate quantitative investment strategies, financial inclusion and Shariah integrity into next-generation faith-aligned products.
Collectively, these innovations underscore JSIL’s role as a catalyst for the evolution of Pakistan’s Islamic capital markets, setting new standards for creativity, compliance and investor value.
Honorable mentions: Kuveyt Turk Portfoy, ASB Capital
Best Islamic Fund House in Africa – 27four Investment Managers
Africa’s line-up of contenders for Best Islamic Fund House in Africa was diverse and compelling from longstanding stalwarts to younger players who have demonstrated great creativity and progressive approaches. After extensive deliberation, the title is awarded to South Africa’s 27four Investment Managers.
The year’s defining achievement was the listing of the 27four Global Shari’ah Equity Actively Managed Exchange Traded Fund (AMETF), Africa’s first actively managed global Islamic ETF, democratizing global Halal investing for African savers.
While the AMETF expanded global market access, 27four’s private-market innovation generated tangible impact at home. The firm continued to scale the Agrarius Sustainability Engineered Sukuk, Africa’s first sustainability-linked Sukuk and a global model for Islamic impact finance.
Over ZAR1.5 billion (US$87.77 million) was deployed into South Africa’s agricultural value chain during the period – supporting farmers, food processors and logistics operators. These investments contributed to job creation, enhanced food security and strengthened rural economies. With returns of 13.2% annualized and verified ESG outcomes, Agrarius demonstrates that Shariah compliant finance can drive both competitive performance and developmental transformation.
Complementing its Sukuk innovation, 27four expanded the Symmetry | 27four GoodYield Credit Fund, which provides Shariah compliant private credit to mid-market enterprises and infrastructure projects.
Together, these milestones solidify the women-led 27four as the continent’s most innovative, impactful and future-aligned Islamic investment house this year.
Honorable mentions: Old Mutual Unit Trust, Oasis Crescent
Best Islamic Fund House in the Americas – Saturna Capital
In the Americas, while some may have gained prominence in the Islamic investing space, none can come close to the stature of Saturna Capital, which is undeniably the Best Islamic Fund House in the Americas.
The firm may only have four active funds, but it exemplified quality over quantity as its range of funds spanning equities, Sukuk and emerging markets, have one of the longest track records in the Islamic fund space (over 30 years) and have consistently outperformed its peers.
Despite its obvious market leadership, the firm did not rest on its laurels and in the last year, continued to build its capabilities and offerings. It expanded its MENA, Asia, GCC and US client base through digital onboarding and cross-border marketing. Its Amana Developing World Fund achieved true regional diversification having invested across over 30 emerging/developing markets while it diversified Sukuk allocation issuers in the Middle East, Malaysia, Indonesia and Africa for its Amana Participation Fund.
Lending to its strength and growing AuM (approximately US$8 billion), is the fact that all its funds are also compliant with ESG principles, making it palatable for non-Muslim ethical investors. Saturna Capital is a prime example of an investment manager operating in a non-Muslim market which successfully blends Islamic finance principles with broad sustainable strategies to deliver alpha and appeal to a wide investor base.
Honorable mentions: ShariaPortfolio, Invesco Capital Management
Best Islamic Fund House in Asia – Public Mutual
Asia is home to an exceptional cadre of Islamic investment professionals, making it challenging to pick the cream of the crop. However, Public Mutual’s unparalleled market dominance, ongoing efforts to expand offerings to meet evolving client demands and navigate market turbulence as well as impressive outperformance have earned it the Best Islamic Fund House in Asia award.
Public Mutual’s sterling performance extends well beyond the equity segment as its robust offerings include fixed income and money markets across various themes and geographies, underpinning the firm’s well-rounded market expertise.
The homegrown brand has its ear close to the ground, responding to investor needs and demands evident by its strong retail support. With over 60 Islamic funds under its belt (and growing), Public Mutual has not diluted its proposition as it continues to deliver on returns while maintaining Shariah integrity, catapulting it to pole position in the Islamic fund space in Malaysia and the Asia Pacific region.
Honorable mentions: Al Meezan Investment Management, AHAM Capital Asset Management
Best Islamic Fund House in Europe – Kuveyt Turk Portfoy
The Best Islamic Fund House in Europe goes to a Turkish firm which commands more than half of the domestic market share – Kuveyt Turk Portfoy, which manages 74 Shariah compliant funds. The firm’s strong domestic base, global investment reach and diverse offerings is near unmatched in Europe,
The firm’s core investment universe includes Turkish equities, lease certificates and TRY-denominated assets, complemented by foreign equities, international Sukuk, gold and foreign exchange markets. This diversification enables participation in both domestic and global markets, ensuring resilience and adherence to Shariah principles – a feat that is hard to come by in regions outside of Turkiye.
During the review period, the Kuveyt Turk Multi-Asset Participation Fund (KCV) operated amid one of the most complex global backdrops in recent years, marked by rare tariff uncertainty, persistent inflation and ongoing regional conflicts that challenged cross-asset correlations. In response to rising volatility, the fund tactically adjusted its exposures – reducing equity risk during periods of uncertainty while increasing allocations to gold and short-term Sukuk to preserve capital.
This dynamic approach allowed KCV to balance return generation with downside protection within a fully Shariah compliant structure. The investment team also enhanced cross-asset risk monitoring to capture correlations between local and international markets more effectively. As a result, the fund demonstrated resilience and reinforced its position as Turkiye’s leading participation-based multi-asset investment fund.
Through its parent group’s international Sukuk issuances and investor relationships in the GCC, Europe and Asia, Kuveyt Turk Portfoy also engages with institutional investors globally.
Honorable mentions: HSBC Asset Management, Katilim Emeklilik ve Hayat
Best Islamic Fund House in the Middle East – Al Rajhi Capital
It was a close fight for the Best Islamic Fund House in the Middle East between several regional heavyweights, but in a nail-biting photo finish, Al Rajhi Capital takes home this coveted crown.
Benefiting from the Al Rajhi global Islamic brand, Al Rajhi Capital boasts over US$14 billion in AuM through 36 funds, ranging from equities, fixed income, REITs and Waqf. A 62% y-o-y AuM surge – thanks to four new fund launches – catapulted the asset manager ahead of its peers, landing it as the top performer in the region. With a brand and performance such as Al Rajhi Capital’s, it is no surprise to see the firm onboarding 130% more clients, as it increasingly becomes the preferred investment manager partner for the region.
Honorable mentions: Jadwa Investment, SEDCO Capital
Islamic Fund House of the Year: The finalists
Market-leading performance, best-in-class practices and trendsetting products, set the 2025 IFN Investor Fund House Award winners apart from the rest, but who will take home the most coveted honor – the Islamic Fund House of the Year? These are the top contenders:
Al Rajhi Capital: The winner of two awards – Best Waqf Fund House and Best Islamic Fund House in the Middle East – Al Rajhi Capital merits global recognition for its robust portfolio spanning a multitude of asset classes, sectors and geographies that caters to the different risk appetites of Shariah investors. Its regional leadership is a global benchmark of excellence.
HSBC Asset Management: While local stalwarts may have dominated the IFN Investors Fund House Awards, one would be remiss not to acknowledge an international giant – HSBC Asset Management, which earned honorable mentions in four categories, demonstrating its inclusive and wide-ranging capabilities. The firm’s expansive global reach – 20 jurisdictions, is nearly unchallenged by most Islamic fund managers; and during the review period, HSBC Asset Management introduced some exciting products and hit US$6 billion in Shariah compliant AuM, making it a global Islamic fund force to be reckon with.
Jadwa Investment: Winning Best Islamic Fund House for Real Estate is only the tip of the Jadwa Investment’s expertise iceberg. The asset manager’s capabilities extend well beyond real estate – it has built an enviable track record in PE, fixed income and private credit among others, serving a broad menu of local, regional and international offerings to its investors seeking long-term value and outperformance.
Public Mutual: An Asian giant in its own right, Public Mutual is a household name and sets an example to the industry on how best to serve investors – by keeping its finger on the pulse of public demand and market trends, resulting in an impressive Islamic offering spanning across numerous asset classes and themes to deliver returns.
Saturna Capital: A longstanding Shariah investment manager which has paved the way for North American peers to venture into a challenging market, Saturna Capital’s solid track record and absolute dedication to both faith and ESG-driven principles have set it apart as a leading fund manager worthy of global acknowledgement.
Stay tuned as we reveal the IFN Investor Islamic Fund House of the Year 2025 at the IFN Investor Awards Ceremony in Dubai on the 14th April 2026.
| Table 1: IFN Investor Fund House Awards 2025: Winners | |
| Category | Winner |
| Best Islamic Fund House for Institutional Investors | SEDCO Capital |
| Best Islamic Fund House for Retail Investors | Hejaz Financial Services |
| Best Islamic Commodity Fund House | Kuveyt Turk Portfoy |
| Best New Islamic Fund House | ASB Capital |
| Best Islamic Equity Fund House | Public Mutual |
| Best Islamic ESG Fund House | BIMB Asset Management |
| Best Islamic ETF Fund House | Albilad Capital |
| Best Islamic Fixed Income Fund House | Al Meezan Investment Management |
| Best Islamic Real Estate Fund House | Jadwa Investment |
| Best Islamic Thematic Fund House | RHB Asset Management |
| Best Waqf Fund House | Al Rajhi Capital |
| Best Islamic Private Equity Fund House | Gulf Islamic Investments |
| Most Innovative Islamic Fund House | JS Investments |
| Best Islamic Fund House in Africa | 27four Investment Managers |
| Best Islamic Fund House in the Americas | Saturna Capital |
| Best Islamic Fund House in Asia | Public Mutual |
| Best Islamic Fund House in Europe | Kuveyt Turk Portfoy |
| Best Islamic Fund House in the Middle East | Al Rajhi Capital |
| Islamic Fund House of the Year | Finalists: Al Rajhi Capital HSBC Asset Management Jadwa Investment Public Mutual Saturna Capital |
