Fund Management Function
The fund management function of abrdn Islamic World Equity Fund has been delegated to abrdn Investments Limited. abrdn Investments Limited manages RM 532.39 million as at 30 June 2022 for the abrdn Islamic World Equity Fund.
abrdn Investments Limited
The Manager has delegated the fund management function of the Fund to abrdn Investments Limited. abrdn Investments Limited’s duties include, amongst others, managing the Fund’s investments in accordance with the objective, investment strategy and policy, permitted investments and investment restrictions and limits of the Fund.
abrdn Investments Limited is an investment manager entity within the abrdn Group. abrdn Investments Limited is authorised and regulated by the Financial Conduct Authority in the United Kingdom. The company manages corporate funds, investment trusts, unit trusts and life and pension funds and has been doing so since 1988.
As at 1 March 2022, abrdn Investments Limited is not engaged in any material litigation and arbitration, including those pending or threatened, and is not aware of any facts likely to give rise to any proceedings which might materially affect its business/financial position.
Amanie Advisors Sdn Bhd
Amanie Advisors Sdn Bhd (''Amanie'') is a Shariah advisory, consultancy, training and research and development boutique for institutional and corporate clientele focusing on Islamic financial services. Amanie is a registered Shariah advisory company for Islamic unit trust with the SC. It has been established with the aim of addressing the global needs for experts' and Shariah scholars' pro-active input. This will ultimately allow the players in the industry to manage and achieve their business and financial goals in accordance with the Shariah Principles. Amanie also focuses on organizational aspect of the development of human capital in Islamic finance worldwide through providing updated quality learning embracing both local and global issues on Islamic financial products and services.
The company is led by Tan Sri Dr Mohd Daud Bakar and teamed by an active and established panel of consultants covering every aspect related to the Islamic banking and finance industry both in Malaysia and the global market. Currently the team comprises of eight (8) full-time consultants who represent dynamic and experienced professionals with a mixture of corporate finance, accounting, product development, Shariah law and education. As at 1 March 2022, Amanie has acquired over seventeen (17) years of experience in the advisory role of unit trusts with one hundred and sixteen (116) funds which Amanie acts as Shariah adviser
Amanie meets every quarter to address Shariah advisory matters pertaining to the Manager’s Islamic funds. Amanie also review the Fund’s investment on a monthly basis to ensure compliance with Shariah principles or any other relevant principle at all times
The roles of Shariah Adviser are:
To ensure that the Fund is managed and administered in accordance with Shariah Principles.
To provide expertise and guidance in all matters relating to Shariah Principles, including on the Fund's deed and prospectus, its structure and investment process, and other operational and administrative matters.
To consult with SC where there is any ambiguity or uncertainty as to an investment, instrument, system, procedure and/or process.
To act with due care, skill and diligence in carrying out its duties and responsibilities.
Responsible for scrutinizing the Fund's compliance report as provided by the compliance officer and investment transaction reports provided by, or duly approved by, the Trustee to ensure that the Fund's investments are in line with Shariah Principles.
To prepare a report to be included in the Fund's interim and annual reports certifying whether the Fund have been managed and administered in accordance with Shariah Principles for the period concerned.
The designated person responsible for Shariah advisory matters of the Fund is Tan Sri Dr. Mohd Daud Bakar as the Executive Chairman.
Tan Sri Dr. Mohd Daud Abu Bakar, Executive Chairman
Tan Sri Dr Mohd Daud Bakar is the Founder and Executive Chairman of Amanie Group. One of its flagship companies namely Amanie Advisors, is operating in a few cities globally. He serves as the Chairman of the SAC of BNM, the SC, the Labuan Financial Services Authority, the Astana International Financial Centre (AIFC), Kazakhstan, the First Abu Dhabi Bank (UAE), and Permodalan Nasional Berhad (PNB).
Ph.D., University of St. Andrews, Scotland
Bachelor of Shariah (Fiqh wa Usuluhu), Kuwait University, Kuwait
Bachelor of Jurisprudence (external), University of Malaya, Malaysia
Other consultants are:
Muhammad Hafizuddin Abd Hamid