Crescent Wealth, the Australia-based Islamic wealth manager, is looking to expand its services in Malaysia and is set to launch two funds.

Crescent Wealth launched the first Islamic Australian equity fund on 6 October and currently holds the distinction as the only Australian wealth manager that specialises in Islamic investing. Malaysia, the country's third-largest ASEAN trading partner, is the second-largest Islamic funds market in the world with some $5 billion under management. In 2009, investments coming from Malaysia into Australia totalled A$8.6 billion ($8.9 billion). 

"Crescent Wealth is pioneering the growth opportunity for our industry to become a hub for Islamic investing, particularly in our own region where 62 per cent of the world's Muslims reside," said Talal Yassine, founder and managing director of Crescent Wealth. 

The company predicts that the Australian Islamic funds market will grow from approximately A$8 billion at present to around A$13 bilion by 2019. It also noted the imminent launch of an international equities fund, an income fund and a property fund to complement its existing business. 

"We are selling Australia to the world by pioneering access to one of the most significant emerging market opportunities in the global investment industry today," added Yassine.