AMT: Australia's Crescent Wealth Surpasses $100 Million Benchmark
SYDNEY, 21 August 2015 – reported by Australian Muslim Times
Crescent Wealth, Australia’s leading Islamic superannuation and investment firm, today announced it has exceeded $100 million in funds under management. The achievement of this key milestone follows 245% growth in funds under management (FUM) in FY15 and demonstrates robust market demand for ethical Islamic investment products.
Crescent Wealth has recorded rapid growth after launching Australia’s first – and the world’s first private – Islamic superannuation (or pension) fund in 2013, with total member numbers growing close to ten-fold between FY14 and FY15.
Talal Yassine OAM, Managing Director of Crescent Wealth, said: “Achieving the $100 million benchmark is a significant validation of our business model and signals that we have the scale necessary to accelerate growth in Australia and abroad. It proves the depth of our market and cements Islamic finance as a significant segment of the sophisticated Australian financial services market.”
Crescent Wealth offers a series of investment funds, including an Islamic cash management fund which accounts for 29% of funds under management, a diversified property fund (27%), an Australian equity fund (21%) and an international equity fund (23%).
The firm’s Crescent Wealth International Equity Fund was ranked on Financial Express as the best performing ethical international equity fund based on 7 funds in Australia and the fourth best ethical international equity fund in the world out of 24, over one year to 30 June 2015. Since its February 2013 launch, the fund has achieved a total return of 60.7% to 30 June 2015.
“We’ve had significant interest from abroad and will continue our growth in the short to medium term, with the firm continuing to reach out internationally,” Mr Yassine added.
Crescent Wealth has established a new office in Kuala Lumpur, Malaysia – indicating further business expansion as the firm continues building its networks across South East Asia and the Middle East.