MENA Asset Management Survey 2012 - National Bank of Abu Dhabi

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Dubai International Financial Centre / Qatar Financial Centre Exchange Traded Funds Questions Dubai International Financial Centre (DIFC) Qatar Financial Centre (QFC) Service Providers & Fund Statistics Number of international administrators 12 1 Number of fund managers (operators) 14 5 Number of firms marketing funds 54 7 Number of funds being marketed 1,807 (mainly from designated jurisdictions) 21 Stock Exchange Stock exchange Nasdaq Dubai The Qatar Exchange (QE), 20% of which is owned by the NYSE Number of funds listed None Currently Taxation Taxes at fund level Currently 0%. Guaranteed for 50 years 0% Corporate tax rate Not Applicable 10% Stamp duty Not Applicable Not Applicable VAT Not Applicable Not Applicable Regulation Name of regulatory body Dubai Financial Services Authority (DFSA) Qatar Financial Centre Regulatory Available fund/legal structures Investment Trust Investment Company Investment Limited Partnership Authority (QFCRA) A fund can be registered as a Collective Investment Company (CIC) Collective Investment Partnership (CIP) Collective Investment Trust (CIT) Another permitted fund entity Categories of regulated funds Public Funds - Targeting retail Qualified Investor Funds – to be offered to and professional investors permitted investors 122
Dubai International Financial Centre / Qatar Financial Centre Exchange Traded Funds Questions Dubai International Financial Centre (DIFC) including market counterparties Exempt Funds (formerly Private Funds - existing private funds have two year transition period). Targeting professional investors and market counterparties Open and closed ended funds both available Average set-up time Public Fund - up to 3 months including approval of fund and authorization of the fund manager (this timing can be greatly reduced where the fund manager is already authorized or applies as an External Fund Manager coupled with the quality of documentation submitted) Exempt funds – streamlined process for authorisation of the fund manager and target an average of 5 days to complete the notification process of the fund - subject to the quality of the application submitted Documentation Basic documents required to set up fund Domestic Fund Documents Application form (all legal structures) Constitution of the Fund Qatar Financial Centre (QFC) Private placement funds – Qualified Investor Funds where the number of unit holders does not at any time exceed 100 and the fund’s constitutional document limits the number of registered unit holders to 100 persons (or less). Professional Investors (proposal to open to retail under consideration) Depends on the quality and completeness of the application and complexity and type of fund. Constitutional Document: For a CIC—the articles of association of the company; For a CIP—the partnership agreement of 123
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Creating relationships that create
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Broad horizon, local expertise, att
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Dubai International Financial Centr
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Editor / Author Gıyas Gökkent’s
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Table of Contents Page 3 Acknowledg
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Country Chapters 8. Bahrain 217 Eco
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Index - Charts & Tables Chapter 1 -
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171 Performance of Shariah Complian
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Chapter 9 - Egypt 242 Assets and Nu
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Chapter 15 - United Arab Emirates 3
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Global Trends Economic Developments
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Global Trends Worldwide funds exper
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Global Trends Breakdown of Global F
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Global Trends Fiduciary Assets of S
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Global Trends Focus: 2013 Outlook I
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Global Trends ING IM says that the
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Global Trends Mutual Fund Assets by
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Global Trends Selected Data by Coun
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Global Trends notably with the UAE,
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Global Trends investment managers o
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MENA Region Trends
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Middle East & North Africa In 2013,
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Middle East & North Africa Fund Ass
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Middle East & North Africa Number o
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Middle East & North Africa Average
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Middle East & North Africa d) In Du
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Middle East & North Africa Q/ Which
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Middle East & North Africa Trends b
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Middle East & North Africa Equity F
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Middle East & North Africa Fixed In
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Middle East & North Africa curve an
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Middle East & North Africa Focus: F
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Middle East & North Africa 1) DFSA
Page 73: GCC Region Trends
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Page 78 and 79: Gulf Cooperation Council Region Ass
Page 80 and 81: Gulf Cooperation Council Region Bre
Page 82 and 83: Gulf Cooperation Council Region Ass
Page 84 and 85: Gulf Cooperation Council Region Foc
Page 86 and 87: Gulf Cooperation Council Region Mor
Page 88 and 89: Gulf Cooperation Council Region Top
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Page 92 and 93: Gulf Cooperation Council Region 201
Page 94 and 95: Gulf Cooperation Council Region Q/
Page 96: Gulf Cooperation Council Region gol
Page 100 and 101: Regulatory Trends with best interna
Page 102 and 103: Regulatory Trends Investor approach
Page 104 and 105: Regulatory Trends thousand Dirhams
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Page 108 and 109: Regulatory Trends Q/ In a recent ne
Page 110 and 111: Regulatory Trends Industry Perspect
Page 112 and 113: Regulatory Trends identify higher-r
Page 114 and 115: Regulatory Trends About Advent Soft
Page 116 and 117: Regulatory Trends providers and tr
Page 118 and 119: Regulatory Trends External Fund Ma
Page 120 and 121: Regulatory Trends Exempt Funds Exe
Page 122 and 123: Regulatory Trends All Property Fu
Page 126 and 127: Dubai International Financial Centr
Page 134 and 135: Bahrain / Kuwait Exchange Traded Fu
Page 146 and 147: United Arab Emirates / Egypt Exchan
Page 154 and 155: Oman / Saudi Arabia Exchange Traded
Page 163 and 164: Benchmarks GCC Overview Money marke
Page 165 and 166: Benchmarks Use of hybrid benchmarks
Page 167 and 168: Benchmarks Recent Developments Regi
Page 169 and 170: Benchmarks Arabia, Tunisia and the
Page 171 and 172: Benchmarks In May 2010, FTSE annou
Page 173 and 174: Benchmarks Equity Funds Performance
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Benchmarks Performance of Shariah C
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Benchmarks Performance of Conventio
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Benchmarks Performance of Conventio
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Benchmarks Fixed Income Funds Perfo
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Benchmarks Industry Perspective Ami
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Benchmarks Q/ Which firms (local /
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Benchmarks On a country level we ex
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Sharia Compliant Funds Saudi Arabia
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Sharia Compliant Funds Top 5 Sharia
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Sharia Compliant Funds While the re
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Sharia Compliant Funds Fund Flows I
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Sharia Compliant Funds it was liqui
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Sharia Compliant Funds MENA Overvie
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Sharia Compliant Funds Average Mutu
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Sharia Compliant Funds Average Asse
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Sharia Compliant Funds and saw net
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Sharia Compliant Funds Top MENA Sha
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Exchange Traded Funds Regional Back
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Exchange Traded Funds MENA Focused
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Bahrain to register a deficit of 4.
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Bahrain Number of Mutual Funds (end
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Bahrain Average Assets of Funds (mi
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Bahrain Number of New Funds (end of
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Bahrain Fund Assets by Investor Typ
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Bahrain Top 10 Bahrain Domiciled Mu
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Bahrain Focus: Industry Perspective
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Bahrain CBB Rulebook Volume 6 was i
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Bahrain - Directory Oman Nr Company
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Bahrain - Directory Oman 20 Global
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Bahrain - Directory Oman 42 Seera I
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Egypt Egyptian officials to ask for
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Egypt Breakdown of Domestic Funds b
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Egypt Top 10 Egypt Domiciled Funds
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Egypt - Directory Oman Nr Company P
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Egypt - Directory Oman 21 Housing &
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Kuwait Economic Developments In 201
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Kuwait Fund Operators, Breakdown by
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Kuwait In 2012Q2, 86% of domestic f
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Kuwait In 2011, assets of mutual fu
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Kuwait - Directory Oman Company Pho
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Kuwait - Directory Oman Al-Madina f
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Kuwait - Directory Gulf Investment
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Kuwait - Directory Manafae Investme
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Morocco
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Morocco Fund Trends According to Ba
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Oman Overview As of June 2012, ther
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Oman - Directory Oman Company Phone
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Qatar The non-oil sector will act a
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Qatar Qatar Central Bank publishes
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Qatar Breakdown of Investments Unde
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Qatar Focus: Recent developments in
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Qatar business. In 2012, over 60% o
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Qatar Count QFC # Firm Name License
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Qatar Investment Funds Licensed in
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Qatar Directory of Investment Compa
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Qatar - Directory Oman Investment H
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Saudi Arabia property. Banks previo
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Saudi Arabia Fund Industry Breakdow
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Saudi Arabia In 2011, the top 5 fir
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Saudi Arabia New Funds in 2011 Fund
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Saudi Arabia Number of New Funds by
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Saudi Arabia Number of Subscribers
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Saudi Arabia SAMA data indicate tha
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Saudi Arabia At the end of 2012Q3,
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Saudi Arabia Top 10 Saudi Domiciled
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Saudi Arabia Fund Assets in Tadawul
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Saudi Arabia - Directory Oman Compa
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Saudi Arabia - Directory Oman Jadwa
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United Arab Emirates Economic Devel
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United Arab Emirates Top Local Fund
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United Arab Emirates Breakdown of F
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United Arab Emirates Recent Fund La
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United Arab Emirates Fund Managers
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United Arab Emirates The first succ
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United Arab Emirates Top 10 UAE Dom
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United Arab Emirates - Directory Om
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United Arab Emirates - Directory Om
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ONE PLACE DIVERSIFYING Qatar. Where
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MENA Asset Management Survey 2012 - National Bank of Abu Dhabi

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