KUALA LUMPUR: Prudential plc’s new Islamic asset management business, Prudential Al-Wara’ Asset Management Bhd, expects to do well in line with the bullish growth of the Islamic finance industry.
Pru Al-Wara’ chief executive officer and chief investment officer Zulkifli Ishak said the optimistic outlook was also based on the strong performance of Islamic assets managed by Prudential Fund Management Bhd (PFMB).
“Islamic banking has been growing at about 20% per year.
“So, we feel that we can easily replicate the industry benchmark,” said Zulkifli, who was previously director of syariah investment at PFMB.
“We have actually beaten the industry benchmark. Earlier this year, we had an Islamic fund size of RM1bil and now we have RM1.5bil (under PFMB), which is a 15% increase,” he told a press conference after the launch of Pru Al-Wara’ yesterday. — Bernama
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