MENA Asset Management Survey 2012 - National Bank of Abu Dhabi

Benchmarks
Arabia, Tunisia and the United Arab Emirates. The S&P AFE 40 is
comprised of the 40 largest stocks (measured by float-adjusted market
capitalisation) listed on AFE member exchanges subject to the following
restrictions: each stock must have at least US$ 50 million in value traded over
12 months, there can be no more than 10 stocks per country, based on
domicile, and at least one stock from each country must be included. In terms
of weighting, the S&P AFE 40 uses a capped market capitalisation weighted
index scheme, where the maximum weight of any constituent cannot exceed
10% and the maximum weight for each country, based on domicile cannot
exceed 35%.
Kuwait
On Dec 2012, Kuwait Stock Exchange performed a new review for “Kuwait 15
Index” in the end of November 2012. The review showed that Ahli United
Bank, Boubyan Perochemical Company, Qurain Chemical Industries Company
exited from the index, while Wataniya Telecom Company, Al Ahli Bank of
Kuwait and Kuwait Food Company entered instead.
Morocco
In June 2012, MSCI announced MSCI would be adding the MSCI Morocco
Index to the list of country indices for potential reclassification to Frontier
Markets as part of the 2013 annual market classification review. MSCI cited a
significant decrease in liquidity since 2008 and consequent decline in the
number of constituents in the MSCI Morocco Index to three.
Oman
On November 29, 2011, Bank Muscat launched the BM S&P GCC Large Cap
Index Fund (BankMuscat Standard & Poor's Large Cap Index Fund), an index
tracking fund directed at institutional investors aiming to tap into the attractive
growth potential of the GCC region markets.
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