May 29 2011
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Islamic ETFs are a go-go
Broadwell was speaking to The Islamic Globe at the sidelines of a recent investment conference being held in Riyadh, Saudi Arabia and said he was experiencing increased inflows to the iShares portfolio of Shari'ah compliant ETFs. He said: "iShares currently has three Shari'ah compliant ETFs in the market, that track the Islamic MSCI indices: iShares MSCI Emerging Markets Islamic, iShares MSCI USA Islamic and the iShares MSCI World Islamic, domiciled in Ireland."
Broadwell said that there had been a significant increase in investments into the ETFs. He said: "Currently the assets under management in these three ETFs are around $160m. The turnover in them during the last 18 months was half a billion dollars," however in the last three weeks, "$20m was invested in [our Shari'ah compliant] ETFs."
He added: "A lot of our customers are family offices, because for them ETFs provide an easy way to access different markets."
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