This paper investigates the investment performance of Malaysian Islamic equity funds and a matching sample of conventional equity funds relative to their market benchmark. An integrated model is used to simultaneously capture the market timing and selectivity skills of fund managers. Our...

Islamic finance is the fastest growing segment of the global financial system and has been experiencing an impressive double-digit growth in recent history. Following the growth trend of Islamic finance, a rapidly rising affluent and well-educated Muslim middle class from the Islamic world and...