Wafra Inc, the New York-headquartered global alternative investment firm with an office in Bermuda, has announced that the organisation's global Sukuk team has been recognised as Best Islamic Fund Manager at the Euromoney Islamic Finance Awards 2024.

The award recognises Wafra's performance and contribution to the Islamic finance and investment community during 2023.

Wafra said its global Sukuk strategy is co-managed by Ron Solenske and Elias Scheker Da Silva, within Wafra's broader portfolio solutions offering for its institutional investors.

It said the strategy uses a comprehensive research and analytical-driven investment approach that seeks to outperform industry benchmarks and deliver consistent returns.

It is designed to deliver Sharia-compliant fixed income-like exposure while also seeking to outperform on an absolute and risk-adjusted basis.

In addition to the investment team's combined experience of more than 40 years, Wafra's strategy features a Shariah board to ensure its adherence to the principles of Islamic finance.

Mr Scheker Da Silva said: "We are honoured to receive this award. Our efforts are not just about delivering strong performance, but about advancing growth and innovation in the Islamic Finance industry."

The Euromoney Islamic Finance Awards showcase Islamic finance institutions that have demonstrated outstanding performance in their respective categories in the past 12 months.

The awards are judged by a panel of Euromoney journalists and researchers and are awarded after a research and interview process, and were announced at the Euromoney Middle East Awards for Excellence ceremony held in Dubai.