CPIfinancial.net - Crescent
Wealth is planning to launch a further three funds – international
equities, property, and income funds – which together will form
Australia’s first Islamic superannuation option.
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Crescent
Wealth, Australia’s first Islamic wealth manager, have announced the
launch of the nation’s first Islamic Australian equity fund creating a
new opportunity in the superannuation industry, and tapping the
potential for Australians to access the $1.4 trillion global Islamic
financial services market.
The Crescent Australian Equity Fund (CAEF), which launches today
with an initial $5.5 million in funds under management and advice,
offers all Australians an investment that is managed in accordance with
Islamic principles, and is aimed at investors who are seeking a socially
responsible alternative option.
Crescent Wealth, currently the only local manager with specialist
expertise in Islamic investing, is targeting the significant potential
for Islamic funds in Australia, which it estimates will grow to as much
as $13 billion in funds under management by 2019 from a potential
investable universe of as much as $8 billion today. (source)
