Saturna Sendirian Berhad (SSB), a wholly-owned subsidiary of US-based investment adviser Saturna Capital, has been granted an Islamic fund management license by the Securities Commission Malaysia.
SSB, through its recently established office in Kuala Lumpur, will provide equity research and Shariah-compliant portfolio management for Malaysian and international investors.
Saturna created the subsidiary through the acquisition of Malaysian investment firm Alpha Asset Management and converted the company’s conventional assets under management into Shariah-compliant portfolios of SSB.
Bryce Fegley, chief investment officer of SSB, will direct international equity research and oversee daily operations of the Kuala Lumpur staff, including investment advisory services, sales, and marketing.
Nick Kaiser, chairman and founder of Saturna Capital, said: “Our office in Kuala Lumpur strategically positions Saturna to meet the growing international demand for our Islamic investment management expertise. We are now able to serve a broader client base in Muslim-majority markets, including individuals, corporations, and institutions. We chose Malaysia for its business-friendly environment and because the Malaysian government is moving to establish Kuala Lumpur as a global center for Islamic finance.”