MENA Asset Management Survey 2012 - National Bank of Abu Dhabi

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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. 254
Kuwait Fund Operators, Breakdown by Fund Type (Number of Funds as of June 2012) Company Conventional Sharia Equity Bond Money Market Other A'ayan Capital Investment 1 1 2 Ahli Capital Investment 2 2 Al Ahlia Investment Co. 1 1 2 Al Aman Investment 1 1 Al Dar Asset Management 5 4 1 Al Dhow Investment 1 1 Al Fouz Investment 1 1 Al Imtiaz Investment 3 1 2 Al Madar Finance and Inv 2 1 1 Al Madina For Fin & Inv 2 2 Al Muthana Investment 2 2 Al Safat Investment Co. 1 1 Amar Finance & Leasing 1 1 Bayan Investment Co 2 1 1 Boubyan Bank 3 1 2 Burgan Bank 2 1 1 CapCorp Investment Co 1 1 CBK Capital 5 1 4 2 1 Coast Invest & Dev. Co 2 1 1 First Investment Company 3 2 1 Global Investment House 21 4 15 2 5 3 Gulf Investment Corp 3 1 2 2 Gulfinvest International 1 1 Housing Finance Co. 1 1 Industrial and Fin & Inv. 1 1 International Financial Adv 2 1 2 1 KIPCO Asset Management 6 1 2 1 1 3 KMEFIC 5 3 2 Kuwait Fin & Inv. Co 1 1 2 Kuwait Financial Centre 7 3 7 1 1 1 Kuwait Investment Co. 5 3 4 1 1 2 Kuwait Real Estate Inv. Co 1 1 Manafae Investment Co. 1 1 Muthanna Investment Co. 2 2 National Investments Co. 3 5 6 1 1 Noor Financial Investment 2 3 4 1 Osoul Investment Co. 1 1 Securities Group Co. 1 1 2 Securities House 1 1 1 1 Tamdeen Real Estate Co. 1 1 Tharwa Investment Co. 2 1 2 1 Wafra International Inv. Co 2 2 2 2 Watani Investment Co. 7 4 1 2 Zumorroda Investment Co. 1 1 Source: Lipper, a Thomson Reuters Company *Aayan Investment has 3 funds according to its website **NBK Capital (Watani Investment Company) had 41 funds as of September 2011 (10 managed in-house and 31 with third parties). 255
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Creating relationships that create
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Broad horizon, local expertise, att
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Dubai International Financial Centr
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Editor / Author Gıyas Gökkent’s
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Table of Contents Page 3 Acknowledg
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Country Chapters 8. Bahrain 217 Eco
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Index - Charts & Tables Chapter 1 -
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171 Performance of Shariah Complian
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Chapter 9 - Egypt 242 Assets and Nu
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Chapter 15 - United Arab Emirates 3
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Global Trends Economic Developments
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Global Trends Worldwide funds exper
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Global Trends Breakdown of Global F
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Global Trends Fiduciary Assets of S
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Global Trends Focus: 2013 Outlook I
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Global Trends ING IM says that the
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Global Trends Mutual Fund Assets by
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Global Trends Selected Data by Coun
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Global Trends notably with the UAE,
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Global Trends investment managers o
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MENA Region Trends
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Middle East & North Africa In 2013,
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Middle East & North Africa Fund Ass
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Middle East & North Africa Number o
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Middle East & North Africa Average
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Middle East & North Africa d) In Du
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Middle East & North Africa Q/ Which
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Middle East & North Africa Trends b
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Middle East & North Africa Equity F
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Middle East & North Africa Fixed In
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Middle East & North Africa curve an
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Middle East & North Africa Focus: F
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Middle East & North Africa 1) DFSA
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GCC Region Trends
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Gulf Cooperation Council Region Ind
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Gulf Cooperation Council Region Ass
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Gulf Cooperation Council Region Bre
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Gulf Cooperation Council Region Ass
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Gulf Cooperation Council Region Foc
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Gulf Cooperation Council Region Mor
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Gulf Cooperation Council Region Top
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Gulf Cooperation Council Region Top
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Gulf Cooperation Council Region 201
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Gulf Cooperation Council Region Q/
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Gulf Cooperation Council Region gol
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Regulatory Trends with best interna
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Regulatory Trends Investor approach
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Regulatory Trends thousand Dirhams
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Regulatory Trends Q/ Article 4, cla
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Regulatory Trends Q/ In a recent ne
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Regulatory Trends Industry Perspect
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Regulatory Trends identify higher-r
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Regulatory Trends About Advent Soft
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Regulatory Trends providers and tr
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Regulatory Trends External Fund Ma
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Regulatory Trends Exempt Funds Exe
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Regulatory Trends All Property Fu
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Bahrain / Kuwait Exchange Traded Fu
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United Arab Emirates / Egypt Exchan
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Oman / Saudi Arabia Exchange Traded
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Benchmarks GCC Overview Money marke
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Benchmarks Use of hybrid benchmarks
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Benchmarks Recent Developments Regi
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Benchmarks Arabia, Tunisia and the
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Benchmarks In May 2010, FTSE annou
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Benchmarks Equity Funds Performance
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Benchmarks Performance of Shariah C
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Benchmarks Performance of Conventio
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Benchmarks Performance of Conventio
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Benchmarks Fixed Income Funds Perfo
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Benchmarks Industry Perspective Ami
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Benchmarks Q/ Which firms (local /
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Benchmarks On a country level we ex
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Sharia Compliant Funds Saudi Arabia
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Sharia Compliant Funds Top 5 Sharia
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Sharia Compliant Funds While the re
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Sharia Compliant Funds Fund Flows I
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Sharia Compliant Funds it was liqui
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Sharia Compliant Funds MENA Overvie
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Sharia Compliant Funds Average Mutu
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Page 208 and 209: Sharia Compliant Funds and saw net
Page 210: Sharia Compliant Funds Top MENA Sha
Page 214 and 215: Exchange Traded Funds Regional Back
Page 216: Exchange Traded Funds MENA Focused
Page 220 and 221: Bahrain to register a deficit of 4.
Page 222 and 223: Bahrain Number of Mutual Funds (end
Page 224 and 225: Bahrain Average Assets of Funds (mi
Page 226 and 227: Bahrain Number of New Funds (end of
Page 228 and 229: Bahrain Fund Assets by Investor Typ
Page 230 and 231: Bahrain Top 10 Bahrain Domiciled Mu
Page 232 and 233: Bahrain Focus: Industry Perspective
Page 234 and 235: Bahrain CBB Rulebook Volume 6 was i
Page 236 and 237: Bahrain - Directory Oman Nr Company
Page 238 and 239: Bahrain - Directory Oman 20 Global
Page 240: Bahrain - Directory Oman 42 Seera I
Page 244 and 245: Egypt Egyptian officials to ask for
Page 246 and 247: Egypt Breakdown of Domestic Funds b
Page 248 and 249: Egypt Top 10 Egypt Domiciled Funds
Page 250 and 251: Egypt - Directory Oman Nr Company P
Page 252 and 253: Egypt - Directory Oman 21 Housing &
Page 255: Kuwait Economic Developments In 201
Page 259 and 260: Kuwait In 2012Q2, 86% of domestic f
Page 261 and 262: Kuwait In 2011, assets of mutual fu
Page 263 and 264: Kuwait - Directory Oman Company Pho
Page 265 and 266: Kuwait - Directory Oman Al-Madina f
Page 267 and 268: Kuwait - Directory Gulf Investment
Page 269 and 270: Kuwait - Directory Manafae Investme
Page 271: Morocco
Page 274: Morocco Fund Trends According to Ba
Page 278 and 279: Oman Overview As of June 2012, ther
Page 280: Oman - Directory Oman Company Phone
Page 284 and 285: Qatar The non-oil sector will act a
Page 286 and 287: Qatar Qatar Central Bank publishes
Page 288 and 289: Qatar Breakdown of Investments Unde
Page 290 and 291: Qatar Focus: Recent developments in
Page 292 and 293: Qatar business. In 2012, over 60% o
Page 294 and 295: Qatar Count QFC # Firm Name License
Page 296 and 297: Qatar Investment Funds Licensed in
Page 298 and 299: Qatar Directory of Investment Compa
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Page 304 and 305: Saudi Arabia property. Banks previo
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Saudi Arabia Fund Industry Breakdow
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Saudi Arabia In 2011, the top 5 fir
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Saudi Arabia New Funds in 2011 Fund
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Saudi Arabia Number of New Funds by
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Saudi Arabia Number of Subscribers
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Saudi Arabia SAMA data indicate tha
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Saudi Arabia At the end of 2012Q3,
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Saudi Arabia Top 10 Saudi Domiciled
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Saudi Arabia Fund Assets in Tadawul
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Saudi Arabia - Directory Oman Compa
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Saudi Arabia - Directory Oman Jadwa
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United Arab Emirates Economic Devel
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United Arab Emirates Top Local Fund
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United Arab Emirates Breakdown of F
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United Arab Emirates Recent Fund La
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United Arab Emirates Fund Managers
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United Arab Emirates The first succ
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United Arab Emirates Top 10 UAE Dom
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United Arab Emirates - Directory Om
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United Arab Emirates - Directory Om
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ONE PLACE DIVERSIFYING Qatar. Where
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MENA Asset Management Survey 2012 - National Bank of Abu Dhabi

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