Abstract
This article investigates one of the most vital issues in the Islamic mutual fund literature: Are there any costs associated with investing in Islamic mutual funds? We used a unique sample of 143 Saudi mutual funds and grouped them into portfolios based on their geographical focus, Shariah compliance, and the Saudi market trend (overall, bull, bear, and the crisis period). Findings suggest there is a benefit from adhering to Shariah law in locally-focused Saudi mutual funds. However, there is a cost of this adherence in internationally-focused Saudi mutual funds. Finally, in Arab-focused Saudi mutual funds, there is neither a cost nor a benefit.
| Original language | English |
|---|---|
| Pages (from-to) | 938-960 |
| Number of pages | 23 |
| Journal | Emerging Markets Finance and Trade |
| Volume | 52 |
| Issue number | 4 |
| DOIs | |
| State | Published - 2 Apr 2016 |
Bibliographical note
Publisher Copyright:Copyright © Taylor & Francis Group, LLC.
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
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SDG 10 Reduced Inequalities
Keywords
- Islamic finance
- Islamic mutual funds
- Saudi Arabia
- Shariah law
- risk-return profile
ASJC Scopus subject areas
- Finance
- General Economics, Econometrics and Finance
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