US investment firm and a Malaysian counterpart have launched an Islamic asset management firm, exploiting what they see as continued strong demand for shariah-compliant financial products.
Principal Financial and CIMB Group have rolled out the
CIMB-Principal Islamic Asset Management operation, based in
Malaysia. The company is jointly owned by the two businesses.
The new asset management firm will manage and distribute Islamic
institutional mandates and unit trust funds in Asia, Europe,
Americas and the