MENA Asset Management Survey 2012 - National Bank of Abu Dhabi

Sharia Compliant Funds
Global Background
Relative increase in GCC share of global sharia compliant fund assets
Global data continue to indicate that fund managers located in the GCC control over half
of global sharia compliant fund assets. GCC fund assets account for a greater share of
the available dataset in this year survey compared to 2011. Some official data are
available for the GCC on sharia compliant funds. In Bahrain, there were 98 local and
foreign sharia compliant funds (down from 101 in 2011) and their assets stood at
US$ 2,496 million at the end of October 2012 (up from US$ 1,692 million in 2011)
according to the Central Bank of Bahrain. In Kuwait, there were 54 locally
incorporated sharia compliant funds as of June 2012 according to the Central Bank.
Domestic sharia compliant fund assets stood at US$ 674.8 million (US$ 800 million in
2011) and foreign sharia compliant fund assets were US$ 66 million (roughly unchanged
from 2011). In Saudi Arabia, 158 were sharia compliant (155 in 2011), according to
Saudi Stock Exchange (Tadawul) data covering 244 funds.
Breakdown of Sharia Compliant Fund Assets by Region
(June 2012)
by Number of Funds
by Fund Assets
M ENA-e x
GCC
1.8%
GCC
32.7%
N.
America
2.0%
Africa ex-
M ENA
2.6%
N.
America
9.6%
M ENA-e x
GCC
0.2%
Africa ex-
M ENA
1.9%
Asia
28.5%
Europe
8.6%
Asia
52.2%
GCC
56.5%
Europe
3.3%
Source: Lipper, a Thomson Reuters company *Lipper largely omit Bahrain
domiciled funds.
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