MENA Asset Management Survey 2012 - National Bank of Abu Dhabi

Kuwait
Based on information provided on CBK’s website, there were 47 entities with 111
locally established funds as of September 2011 in Kuwait (112 in June 2010), of
which 54 were sharia compliant funds (55 in June 2010).
Central Bank previously provided mutual fund data in its annual economic report, but this
appears to be discontinued. Central Bank also provides fund data in its statistical
bulletins, but these differed significantly from those in the economic report in the past.
Latest available data for end-June 2012 show that total fund assets stood at US$
13.2 billion (-14.2% year-on-year and -5.9% from end-2011). Domestic fund assets
stood at US$ 5.41 billion (-16.9% year-on-year), down from US$ 5.8 billion at the end
of 2011 (-6.7%). Foreign fund assets stood at US$ 7.78 billion (-12.3% year-onyear).
Sharia compliant domestic fund assets stood at US$ 675 million (-17.8% year-onyear)
accounting for 12.5% of domestic fund assets (steady since 2008). Sharia
compliant foreign fund assets stood at US$ 66 million (-39% year-on-year) accounting for
0.85% of foreign fund assets (down from 6.7% in 2005).
Number and Assets of Domestic and Foreign Funds*
(billions of U.S. dollars where relevant)
Number of Funds
Locally Incorporated Foreign
Assets
Total
Sharia Conventional
Domestic Foreign
Funds Funds
Assets
2000 - - - 0.4 - -
2001 - - - 1.9 - -
2002 - - - 3.4 - -
2003 - - 68 5.7 2.2 7.9
2004 20 40 72 7.9 3.2 11.1
2005 24 42 - 9.8 - -
2006 33 44 89 9.8 5.8 15.7
2007 47 52 102 14.4 8.6 23
2008 54 57 120 10.8 10.2 18.2
2009 54 58 117 7.0 8.6 15.6
2010 - - - 7.3 9.1 16.4
2011 54 57 - 5.8 8.2 14.0
12Q2 - - - 5.4 7.8 13.2
Source: Central Bank of Kuwait, International Monetary Fund *Data for 2000-2009
based on CBK Economic Bulletin; data differ significantly from those provided in
quarterly/monthly bulletins. Data since 2009 from quarterly bulletins.
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