Threadneedle to launch Shariah-compliant investment operation in Malaysia

11 October 2013   Category: News, Malaysia, Singapore   By Asia Asset Management

Threadneedle Investments announced on October 10 the upcoming launch in Malaysia of a Shariah-compliant investment operation to institutional investors including sovereign wealth funds, pension funds, insurance companies, government / quasi-government entities, corporates and charities.
 
Syed Elias Alhabshi has been appointed chairman for Malaysia of the new operation.
 
Mohd Farid bin Kamarudin, currently CEO for Malaysia, will assume the additional role of senior fixed income fund manager. He reports to Clifford Lau, head of fixed income (Asia Pacific), Mr. Alhabshi, and Andrew Chan, chief administrative officer, Asia Pacific. Mr. Mohd Farid will lead the effort to build out Threadneedle’s Shariah-compliant investment capabilities and will be a senior member of the global investment team. Previously he was executive director and head of sukuks and alternative investments for AMIslamic Funds Management in Malaysia.
 
Sabrina Wong has been appointed as fixed income analyst based in Malaysia, reporting to Mr. Mohd Farid and Mr. Lau. Previously she held fund manager positions at Investec Asset Management and Bank Negara in Malaysia. 
 
The team will be supported by the Singapore regional office and global head office in London. 
 
Raymundo Yu, Threadneedle’s Asia Pacific chairman, commented: “There is substantial untapped demand for Shariah products and in order to capture these opportunities we need to have in-depth understanding of our clients and ensure we are able to innovate and customise our offerings to clients to meet their needs. With the presence of these new capabilities, we aim to make Threadneedle a centre of excellence for Islamic finance in Malaysia. 
 
“We have a strong team-based approach at Threadneedle, with a culture of open discussion, debate and sharing of ideas to give us a global perspective advantage. The investment team in Malaysia will work closely with Threadneedle’s investment teams in Singapore and London supporting our global vision while continuing to focus on competing in local markets. This is an important strategic milestone for Threadneedle and further demonstrates our commitment to building a truly client-focused business for investors across Asia.”