MENA Asset Management Survey 2012 - National Bank of Abu Dhabi

Bahrain
The number of foreign funds fell for the first time in 2012. The number of foreign
funds in Bahrain fell from 2,711 in 2011 to 2,689 as at October 2012. The net increase in
the number of foreign funds was 65 in 2010 and 73 in 2011. The number of locally
incorporated funds fell in the same period.
Fund Assets
(millions of U.S. dollars, end of period, annual data except for October 2012)
US$ million
18,000
16,000
14,000
12,000
10,000
8,000
6,000
4,000
2,000
-
Sharia Compliant Funds
Locally Incorporated Funds
Total Funds
2002 2004 2006 2008 2010 Oct-12
Source: Central Bank of Bahrain
The combination of a rise in the number of foreign funds and a decline in foreign fund
assets meant that overall average fund assets roughly halved from US$ 6.3 million at
end-2007 to US$ 2.9 million at end-October 2012.
Average assets under management for locally incorporated funds rose from US$ 17
million in 2003 to US$ 42 million in October 2012. The number of local funds rose from
42 to 141 in 2008, but has since been declining. Number of locally incorporated funds
fell to 122 in October 2012.
Average assets under management for sharia compliant funds was US$ 25 million
in October 2012, up from US$ 17 million in 2011. The number of sharia compliant
funds rose to 106 in 2010, but then declined to 98 as at end-October 2012.
221