The Saudi-based Jadwa Investment (Jadwa) provides Islamic financial services including asset management, investment banking, private equity and brokerage.

Jadwa manages 3% of Saudi Arabia’s total assets under management, as of the close of 2008. Its total assets under management dropped by 14%, annually, to SAR3.7 billion (USD986.2 million), compared to the country’s 29% decrease. The firm’s 2008 annual revenues from asset management increased by 285% to SAR57.5 million (USD15.3 million), a growth attributed to fund performance. Revenues from investment banking reached SAR53 million (USD14.1 million) and brokerage doubled its market share, reaching a trade volume of SAR12 billion (USD3.2 billion).

The firm launched the Russell-Jadwa Shariah Index, in June 2009, with US-based Russell Investments. The industry benchmark for Islamic funds is expected to contain 2,700 securities, from 60 countries.

Jadwa plans to invest around SAR4.27 billion (USD1.14 billion) in the US and UK commercial property markets in 2009-2010, with the UK-based property investor, CIT.