Threadneedle Investments has commenced operations in Malaysia to target Shariah-compliant investment services to institutional investors.
The company also intends to offer services to sovereign wealth funds, pension funds, insurance companies, government/ quasi-government entities, corporates and charities, according to The Asset Magazine.
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Syed Elias Alhabshi, who has been a senior advisor to Threadneedle in Singapore since September 2011, has been named as chairman for Malaysia.
Mohd Farid bin Kamarudin, currently CEO of Malaysia, will take over the role of senior fixed income fund manager in the country.
In his new role, Farid bin Kamarudin will report to Clifford Lau, head of fixed income (Asia-Pacific), Alhabshi and Andrew Chan, chief administrative officer, Asia-Pacific.
Farid will be responsible to build out Threadneedle’s Shariah-compliant investment capabilities and will be a senior member of the global investment team.
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By GlobalDataPrior to this, Farid was executive director and head of sukuks and alternative investments for AMIslamic Funds Management in Malaysia.
Additionally, Sabrina Wong has been appointed as fixed income analyst based in Malaysia, reporting to Farid and Lau. Earlier to this, she has held fund manager roles at Investec Asset Management and Bank Negara in Malaysia.
The team will be supported by the Singapore regional office and global head office in London.
Threadneedle was granted approval in principle from the Securities Commission to establish an Islamic fund management company in Malaysia and is currently ready to apply for full license to the Securities Commission.
