QInvest, the investment bank with majority shareholdings owned by Qatar Islamic Bank, announced that it would plan to launch at least thirty Islamic funds in the next three years. These funds would be operated from a managed account platform that it will be introduced this week.

When the plan is operationalized, the fund would play a large role in the revival of the Islamic fund industry especially after the global financial crisis. Islamic funds launches fell to just 54 globally from 60 funds in 2011, according to Lipper a subsidiary of Thomson Reuters. Overall, 88 funds have been liquidated in the past two years.

QInvest has offices in Riyadh and Istanbul and is in the process of attracting a strategic investor market beyond the confines of Gulf Coast countries through its Cayman based fund mechanism.

Currently, there are four Islamic funds in QInvest's platform and they focus on international equities under the advisement of US based firms Eagle Capital Management and Edgewood Management.