World's best fund managers to convene at the Annual Failaka Funds Awards in Dubai

This year's gathering of high profile global fund managers on the 24th of March is set to be the most successful ever, drawing more attention to the exciting growth and broadening interest in Shariah-compliant investment funds.

The Failaka Awards have consistently set a benchmark for the Sharia-compliant funds industry. The Awards will highlight the achievements and innovations of fund families, fund managers, and individual funds. Notably, this year will see the addition of a number of important categories that include a one-year, three-year, and in some cases, a five-year performance award. This is reflective of the increasing transparency and availability of information from fund managers and thus a reflection on the growth of the market generally.

The Awards are being supported by Ideal Ratings whose range of Shariah compliant fund management aids have become a reference point for the industry and is a testament to the range of innovative developments taking place.

"We have big plans for our 3rd Annual Failaka Awards. Beyond recognizing thebest managers in this growing space -now over $17bn in assets-we will be adding two relevant sessions on ETFs and the industry's continued expansion into Emerging Markets. And as always, for new players and established groups alike, the Awards will remain the preeminent industry event for networking and product promotion," said Mark Smyth, Managing Director, Failaka Advisors.

An Industry First

This year's benchmark Awards will feature two exclusive industry insights: one on exchange-traded funds (ETFs) and emerging-market funds; and another on the GCC capital markets in 2008.

Additionally, Failaka's new online database of more than 300 Islamic equity funds is to be showcased at the Awards. For the first time, Failaka will be making available to institutions and individual investors all their key data on fund objectives, geographic focus, net asset value, historical and current performance, on a state-of-the-art online platform. Going forward, Failaka will be dis-continuing their hard-copy reports, which have been published since 1997.

The online database is a great step forward for the industry, and promises to be an exciting attraction for industry participants.

Awards Categories

Best Islamic Fund Manager (GCC) - Best Islamic Fund Manager (U.S) - Best Islamic Fund Manager (Asia) - Best Global Equity Fund (One-Year) - Best Global Equity Fund (Three-Year) - Best Global Equity Fund (Five-Year) - Best GCC Equity Fund (One-Year) - Best GCC Equity Fund (Three-Year) - Best European Equity Fund (One-Year) - Best European Equity Fund (Three-Year) - Best U.S. Equity Fund (One-Year) - Best U.S. Equity Fund (Three-Year) - Best Asian Equity Fund (One-Year) - Best Asian Equity Fund (Three-Year) - Best Malaysian Fund (One-Year) - Best Malaysia Fund (One-Year) - Best Balanced Fund (One-Year) - Best Balanced Fund (Three-Year) - Fastest Growing Fund (Three-Year) - Best Emerging Market Fund (One-Year).