already have been recognized in the IEF industry, OACREQU for example has recently won the Failaka Islamic Fund Awards 2005 as the best performing Global Equity Fund51. Next the active management skills of IEFs are evaluated by looking at their IR. Table 3, shows that the average annualised IR of IEFs (benc

Portfolio are comprised of tax-exempt investors and are managed without regard to tax consequences. Taxable investors would likely participate in a Global Equity. U.S. Small Cap Equity or Balanced investing strategy through a separate vehicle or managed account that has the same investment objective as the Po