THE net asset value (NAV) of syariah-based unit trust funds in Malaysia grew to RM3.21bil in 2002 from RM2.42bil in 2001, the number of management companies to 27 from 23, and the number of approved funds to 44 from 32.
But, the percentage of NAV to the total industry was still small at 6% in 2002, up from 5.1% in 2001.
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