Dutch pension funds need to do more to cater for their Muslim members, a prominent industry figure has claimed.
Erik van Dyke, CEO and CIO of investment consultancy Compendeon, stated: "The industry is in a position to create tailor-made solutions now, but no one wants to make the first move as it is a politically sensitive issue."
Dutch fund PGGM confirmed it had no shariah compliant investment alternatives and no plans to introduce any.
ishares launched the country's first shariah ETF in January, partly because of the population demographic, but a spokesperson said it was too soon to judge whether it had been a success.
Index provider FTSE confirmed it had received very little interest from the Netherlands about its growing range of shariah offerings.
Bart Heenk, managing director of the Benelux and Nordic, SEI, said unless there was pressure from the member base, it was unlikely pension fund board members would turn their attention away from producing returns.
Heenk commented: "If yields from shariah instruments began to outperform traditional assets, pension funds would certainly look at them, but so far that has not been happening."
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