MENA Asset Management Survey 2012 - National Bank of Abu Dhabi

Kuwait
In 2011, assets of mutual funds in our dataset domiciled in Kuwait declined by
22% from end-2010 primarily due to a decline in equity fund assets which was, in
turn, due to market performance. Mutual fund assets experienced estimated net
outflows of US$ 1.43 billion. Estimates point to a US$ 800 million net outflow from
equity funds and US$ 440 million from money market funds. Money market funds
registered a negative return of -2.3%, while equity fund returns were -1% on average.
Estimated Fund Flows
(millions of U.S. dollars, 2011)
Fund Assets Fund Type AuM% Change Net Flows
2010 2011
785 327 Money Market -58% (439.8)
385 260 Fixed Income -33% (120.8)
5,162 4,322 Equity -16% (799.8)
517 448 Other -13% (66.2)
Source: Lipper, a Thomson Reuters Company
Equity Funds
In 2012H1, Kuwait domiciled equity fund assets in the dataset fell by 10% and
witnessed net outflows of US$ 415 million. Sector equity fund assets decreased by
13.6%, while index fund assets fell by 4.3%. In 2011, Kuwait domiciled equity fund
assets decreased by 16% and witnessed net outflows of US$ 800 million. Sector equity
fund assets decreased by 3.5%, while index fund assets declined by 9.5%.
Top 10 Kuwait Domiciled Equity Funds by Assets
(millions of U.S. dollars, June 2012)
Rank Fund Name Type Sponsor AuM
1 Al Raed Fund Equity Kuwait Investment Co. 515
2 Al Wataniya Investment Fund Equity National Investments Co. 479
3 Markaz Investment and Dev. Fund Equity Kuwait Financial Centre 309
4 Burgan Equity Fund Equity Burgan Bank 276
5 Markaz Mumtaz Investment Fund Equity Kuwait Financial Centre 197
6 Tijari Investment Equity CBK Capital 143
7 Al Safwa Investment Fund Equity National Investments Co. 136
8 Al Durra Islamic Fund Equity Global Investment House 133
9 Al Ahli Kuwaiti Fund Equity Ahli Capital Investment 132
10 Markaz Forsa Financial Fund Equity Kuwait Financial Centre 132
Source: Lipper Rankings, Lipper, a Thomson Reuters Company
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