Young Middle East millionaire investors bid on Islamic and sustainable investments

The vast majority of younger high net worth investors (91%) in the Middle East allocate investments in the Islamic investment class, with 81% also factoring sustainability in their investment decisions, according to Lombard Odier.

More than seven out of 10.73%, believe that sustainability can drive better investment performance, the wealth and asset manager said in a report.

For the report, Lombard Odier surveyed 300 HNWI individuals in Middle Eastern countries, the majority of whom were under 40.

The majority think there are significant opportunities in the digital and tech sectors (79%) and that private assets represent an important asset class (60%).

Many also show loyalty to the Middle East, with 89% holding their assets within the region; however, 23% are rethinking the geographical set-up of their family wealth.

The asset manager quoted one young UAE investor, who said that Islamic finance has proven its resilience against the worst of situations, while another from Saudi said: “Sustainable investing is a key business fundamental for us. We formulate our investments and determine whether they are sustainable according to key factors, prioritizing these conditions.”

(Reporting by Imogen Lillywhite; editing by Seban Scaria)

[email protected]

.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
DRAGONINKHOUSE