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 Management was 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 Management has 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, unitized 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 specializes in Asia equities, Asia Pacific Ex-Japan equities and Global Sukuk.