A new fund house has launched in London offering Shariah compliant funds in a Ucits structure to UK investors.
Oasis Crescent, which has its new office in the Knightsbridge area of London, has been managing Islamic and conventional funds for more than 15 years, with £2.5bn (€3bn, $4bn) of assets under management, and operating within Europe for more than ten.
The company said the Islamic investment market in the UK is currently “under £1bn” but has the “potential to be between £120bn and £160bn".
Adam Ebrahim, founder and chief executive of Oasis Crescent said: “The UK is a major global financial centre and is fast establishing itself as a leading Islamic finance centre in Europe.
“The UK has a vast supply of financial services skills, a world class infrastructure, and a sound regulatory and compliance system.
Regarding the product legislation; the available product structures, especially the tax-incentivised savings products, fit in with our wealth management philosophy.”
All Oasis Crescent Global funds will be available to UK investors directly. These include equity, property, income, and life-staging asset allocation balanced funds. Funds are managed by Ebrahim, who has over 20 years of experience in the industry, and a team of senior investment professionals.