OSK-UOB ISLAMIC FUND MANAGEMENT SIGNS WITH IDEALRATINGS AS THEIR SHARIAH SCREENING PROVIDER
San Francisco, USA – Kuala Lumpur, Malaysia January 16th, 2012 –
OSK-UOB Islamic Fund Management, a joint-venture company formed between the OSK Group, one of Malaysia’s leading investment bank and Singapore’s UOB Group, one of Asia’s leading financial institutions, announced today that it has signed a strategic agreement with IdealRatings, Inc. a global Shariah compliant fund management service provider to utilize IdealRatings’ unique research based screening for their global growth strategy of equity funds.
According to Mohamed Noor, CEO, OSK-UOB Islamic Fund Management, OSK-UOB Islamic Fund Managementwas looking to find a partner who could provide detailed analysis of the revenue breakdown for the global stock market specifically for food companies involved in any non-halal elements. “IdealRatings, did an outstanding job screening companies with their one of a kind research methodology along with their comprehensive Shariah fund management solution. We feel confident relying on IdealRatings to provide us with top quality Shariah screening data for our Global Halal Food Fund and also for the other unique funds we will be offering as part of our portfolio in the future” said Mohamed Noor.
“The team at OSK-UOB Islamic Fund Managementhas great plans for much needed products in the market. We are proud to help such team with our service to develop successful products to meet the market demands in a high growth market” said Mohamed Donia, CEO of IdealRatings.
About OSK-UOB Islamic Fund Management
OSK-UOB Islamic Fund Management Berhad (OUIFMB) is the Islamic joint venture entity formed between UOB Asset Management Ltd (UOBAM) and OSK-UOB Unit Trust Management Bhd (OSK-UOB UTM). Incorporated on 17 November 2009, OUIFMB aims to provide quality services and innovative Islamic financial products to serve the growing market demand of local and foreign investors
As a licensed Islamic fund management arm of the OSK and UOB Group, OUIFMB offers Islamic fund management business activities, offering Syariah-based equity funds, balanced funds, Sukuk funds, unitised structured funds, capital protected funds, money market funds, feeder funds and index funds. In addition to undertaking cross-border fund management business activities and managing Islamic unit trust funds originated and offered by the regional offices of the Group, OUIFMB also specialises in Asia equities, Asia Pacific Ex-Japan equities and Global Sukuk
About IdealRatings Inc.
IdealRatings is the most trusted provider of accurate, and timely, Islamic Finance information, the company’s Shariah screening, purification, fund and index management services identify and manage Shariah compliant equities, funds and Sukuk globally
Most Islamic index providers, and financial institutions in 12 countries rely on IdealRatings to create and manage their Islamic products. IdealRatings, Inc. is headquartered in San Francisco, California.
For more information, please visit: www.idealratings.com
For further information about OSK-UOB Islamic Fund Management
Md Noor Bin Hj A Rahman
OSK-UOB Islamic Fund Management Bhd
Plaza OSK, Jalan Ampang, Kuala Lumpur
For further information about IdealRatings
425 Market Street, San Francisco, CA 94105