Sharia assets total a mere $65 billion worldwide

Assets is sharia-compliant investments total around $65 billion, according to financial services research firm Cerulli Associates, which is a figure thatÆs more modest than the hundreds of billions of dollars often cited by regulators and industry players.In a report on sharia investing, Boston-based Cerulli notes that 53% of the assets, or $35 billion, is held in mutual funds. Specifically, $33.6 billion is managed by local fund managers, while $1.4 billion is managed by foreign fund…