Islamic equity funds: an Italian perspective

Stefano, Collina (2009): Islamic equity funds: an Italian perspective.

Abstract

Fuelled by the skyrocketing commodities prices and the booming middle-classes in emerging economies, the Islamic equity funds industry has been in the recent years one of the fastest growing sector in the global finance panorama. This paper discusses the peculiar characteristics of an Italian equity portfolio constructed following the Sharia'a provisions and the opportunities this industry offers to Italian financial institutions in both the retail and wholesale markets. This paper also discusses how these funds weathered the financial crisis and how they are able to offer a value-added to particular investor classes along with the ethical part.

• Item Type: MPRA Paper
• Language: English
• Keywords: Islamic Finance, Islamic Equity Funds, Performance, Islamic Mutual Funds, Financial Ratios
• Subjects: G - Financial Economics > G1 - General Financial Markets > G11 - Portfolio Choice ; Investment Decisions

References

[1] Abderrezak, F. The Performance of Islamic Equity Funds: A Comparison to Conventional, Islamic and Ethical Benchmarks. MA Thesis. University of Maastricht - Maastricht, NL. 2008.

[2] Ayub, M. Understanding Islamic Finance. John Wiley & Sons - Hoboken, USA. 2007.

[3] Babikir Ahmed, O. Islamic Equity Funds. Paper. Islamic Development Bank - Jeddah, KSA. 2001.

[4] Bastaki, N. A. Assessing the Explanatory Behaviour Of Islamic Equity Screening Norms and Analyzing an Islamic Stock Selection Strategy. MSc Project. Imperial College - London, UK. 2008.

[5] Brunoni, G. Islamic Finance in Italy. Business Islamic - June 08, pp 44 - 46. 2008.

[6] Edouhabi, F. Strumenti di Finanza Islamica per le Banche Commerciali Occidentali. Master Thesis. University of Bologna - Bologna, IT. 2005.

[7] Forte, G. and Miglietta, F. Islamic Mutual Funds as Faith-Based Funds in a Socially Responsible Context. Working Paper. Bocconi University - Milan, IT. 2007.

[8] Kraeussl, R. and Hayat, R. The Performance of Islamic Equity Funds. Working Paper. VU University Amsterdam - Amsterdam, NL. 2008.

[9] Lombardi, R. Finanza Islamica, Opportunità e Limiti. MSc Thesis. University of Rome "La Sapienza" - Rome, IT. 2009.

[10] Pfeier, D. and Stewart Sta, R. Islamic Banking and Finance. Spiramus Press - London, UK. 2008.

[11] Steiner, A. Investment Performance Analysis and Risk Management. Zurich, CH. 2006.

[12] Usmani, T. Principles of Shariah Govening Islamic Investment Funds. in Islamic Mutual Funds as Faith-Based Funds in a Socially Responsible Context. 2007.

[13] VV.AA. Islamic Investments. Norton Rose Group - London, UK 2008.

[14] VV.AA. The Islamic Funds & Investments Report. Ernst & Young - Luxembourg, LUX. 2008.

[15] VV.AA. The Islamic Funds & Investments Report. Ernst & Young -Luxembourg, LUX. 2009.

[16] Walder, U. and Erny, D. Islamic Funds. Working Paper. Hochschule Luzern - Luzern, CH. 2007.

[17] Wilson, R. Islamic Finance in Europe. RSCAS Policy Paper No. 2007/02. University of Durham - Durham, UK. 2007.