Principal joins forces with Malaysian giant

Principal Financial Group, the parent of fund manager Principal Global Investors, has linked up with Malaysian banking giant CIMB Group to launch CIMB-Principal Islamic Asset Management. Operating from the Malaysia International Islamic Financial Centre (MIFC), the firm will offer a range of Shari'ah-compliant investment mandates and unit trusts to institutional and retail investors throughout Asia, Europe, the Americas and the Middle East. Commenting on the link-up, Jim McCaughan, president and CEO of Principal Global Investors, said: "CIMB Group has excellent Islamic finance credentia...