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Friday, 13 January 2017

(The Star) Leading hub for Islamic fund and management

KUALA LUMPUR: The Securities Commission (SC) has unveiled a five-year strategic blueprint to establish Malaysia as a leading hub for Islamic fund and wealth management globally.
SC chairman Tan Sri Ranjit Ajit Singh said that the regulator would continue to pursue strategies to further the development of the Islamic capital market at domestic and international levels.
“The blueprint represents Malaysia’s focused and concerted efforts in leveraging its well-established Islamic fund management industry to grow the wealth management segment.
“It will also drive greater internationalisation of the Islamic fund and wealth management industry through enhanced cross-border capabilities and connectivity,” he said at the launch of Malaysia’s Islamic Fund and Wealth Management Blueprint here yesterday.
“Malaysia’s capital raising figures for 2016 showed that close to RM100bil was raised through the capital market through bond issuances, initial public offerings (IPO) and secondary fundraising. Our estimates show a figure of about RM105bil to be raised this year,” he added.
In conjunction with the launch of blueprint was the International Fund Forum 2017 which was also organised by the SC. The forum featured prominent market strategists and senior representatives from various fund houses and was attended by over 300 international and domestic industry stakeholders.
During an investment roundtable, a panel of industry experts emphasised the need towards sustainable and responsible investing (SRI) and stressed the importance of SRI to the financial industry.
“SRI is fundamental to growth in the region and the health and stability of our financial systems. It is a fundamental in the way we invest,” said United Nations Principles for Responsible Investment, head of Asia, Jessica Robinson.
In another panel, discussions centred on macro-economic issues such as the global economic outlook for 2017-2018. “Emerging market equities will be up by 8% to 10%” said BNP Paribas, senior economist, Chi Lo.

“Oil prices will stay in the range of US$40 – US$50 and not move much” added BlackRock, lead product strategist for the Asian equities team, Jonathan Reoch.