ING Funds will launch a new SharÆiah-compliant global Islamic funds unit in Malaysia during the first quarter of 2009. The new unit will sell SharÆiah-compliant funds to investors across the Asia-Pacific through ING Investment ManagementÆs 13 offices in the region.
Key target markets for the new unit include China, Dubai and Hong Kong.
ôWe are looking to export SharÆiah-compliant funds as the Malaysian market is not really big,ö says ING Funds chief executive officer Steve Ong. ôThis is the positioning that we want because we would like to manufacture it for ING Asia Pacific, Europe and America.ö