As the leading resource on Islamic public fund offerings, the IFN Investor Funds Database tracks 2,707 public Islamic funds managed by 518 asset management firms, handling a total of US$451.2 billion in AuM as at the 30th March 2026.
Insight from this database revealed just two asset managers offering a total of eight Shariah compliant funds in Australia – which charted a conservative performance toward end-2025, with the focus on ETFs and core equity strategies.
Our stories
Islamic mutual funds and retail equities, once expected to scale rapidly on the back of Indonesia’s large Muslim population, have lagged expectations due to continued structural limitations as the local capital market remains dependent on a concentrated domestic investor base.
Underpinned by a commitment from Malaysian civil service pension body Kumpulan Wang Persaraan (KWAP), Catenary Capital – a joint venture between Malaysia’s Foster Capital and UK-based Castleforge – caters to institutional investors seeking structured, Shariah compliant access to real estate opportunities in Malaysia and selected international markets.
Global asset managers are pivoting toward high-quality, low-leverage equity filters to hedge against the potential of a 2026 stagflation, creating a functional tailwind for Shariah compliant and ESG-integrated ETFs.
Developing trends
The Mutual Funds Association of Pakistan said total AuM of Islamic fund managers surged to PKR2.1 trillion (US$7.49 billion) as at the 28th February 2026, close behind the PKR2.25 trillion (US$8.02 billion) for conventional funds. This marked jump from 2025 recorded a growth rate that anticipates Islamic funds total AuM to surpass conventional counterparts ahead of the 1st January 2028 constitutional deadline for Pakistan’s financial industry to be fully Shariah compliant.
Indonesia’s largest Islamic NGO, Muhammadiyah, issued a Fatwa recognizing cryptocurrency as a digital asset suitable for long-term investment – but also deemed it unsuitable as a currency due to high volatility.
The Nigerian government is expected to launch the National Humanitarian and Poverty Reduction Trust Fund, which will embed innovative and blended financing tools including Islamic finance instruments like Zakat, Sukuk and Waqf, along with climate financing, social impact bonds and private sector investment.
KWAP is investing up to RM190 million (US$47.88 million) from its climate-focused fund Dana Iklim+ into district cooling joint venture platform, Lestari Cooling Energy – a Stonepeak-KJTS Group joint venture.
Deals and offerings
Indonesia’s Bank Kalsel Syariah is offering gold ownership through its iB Ar Rahman facility, enabling customers to purchase gold via instalments in compliance with Shariah principles.
The Securities and Exchange Commission of Pakistan approved seven pension funds for the Government of Balochistan – to be managed by Pak-Qatar Family Takaful, Faysal Asset Management and Al Meezan Investment Management.
A new class B offering for Malaysia’s Opus Shariah Income Plus Fund was launched on the 18th March 2026. This new class, with a minimum RM10 (US$2.52) initial subscription, is not expected to make any distributions.
Vault22, a fintech backed by Standard Chartered’s SC Ventures and Next176, plans to enter the Islamic finance market with a Shariah compliant personal finance and wealth management offering in the UAE through its Hafiq platform, which is expected to launch around mid-2026 from the Dubai International Financial Centre.
Global Board Advisors Corp and BoardroomEducation.com introduced the Quantum Strategic Intelligence framework tailored for Islamic capital markets, aimed at addressing governance challenges linked to post-quantum cryptographic risk, AI oversight and tokenized financial instruments.
