MENA Asset Management Survey 2012 - National Bank of Abu Dhabi

Bahrain
There were 2,689 foreign funds at end-October 2012. Foreign funds had assets of
US$ 3.15 billion. Citibank N.A. provided the most number of third party foreign funds,
followed by other international banks. There were 98 sharia compliant funds (including
domestic and foreign incorporated funds) with assets of US$ 2.5 billion. These were
sponsored by 52 companies.
Top Fund Sponsors by Number of Locally Incorporated Funds (11/2012)
Global Investment
House
16.1%
Other
67.7%
SICO
5.6%
Mashreq
4.0%
Solidarity Ins &
Assurance Co
3.2%
Gulf Investment
Corporation
3.2%
Source: Central Bank of Bahrain
The number of funds marketed in Bahrain declined slightly in 2012. Number of
locally incorporated funds declined by 5 according to data as of October,
continuing the pattern set in the aftermath of the 2008 global slowdown. The picture had
been brighter with sharia compliant fund numbers, with steady growth in the count in that
segment, but these declined by 3 in the same period. The number of foreign funds
declined by 22, the first period of decline since the start of our dataset in 2003.
219