MENA Asset Management Survey 2012 - National Bank of Abu Dhabi

United Arab Emirates
Top Local Fund Sponsor Companies*
(June 2012)
Top Companies by Number of Funds
CBD
6.1%
ADIC
6.1%
Al Mal
5.1%
Mashreq
8.2%
ENBD
13.3%
Shuaa
5.1% Dam an
4.1%
NBAD
16.3%
Others
35.7%
Top Companies by Fund Assets
ADCB
6.2%
ADIC
6.7%
FGB
9.7%
Mashreq
5.0%
NBAD
14.1%
Arqaam
4.4%
Others
25.8%
ENBD
28.0%
Source: Companies, Lipper, a Thomson Reuters company
*Excludes fund management activities of foreign financial institutions; Excludes
funds managed by Rasmala for other entities; Dubai Shariah Asset Management
Ltd – a joint venture between Dubai Commodities Asset Management (a division of
Dubai Multi Commodities Centre Authority- DMCCA) and Shariah Capital – has
some third party managed funds. The bulk of this was an investment by DMCCA
as a seed investor.
This chapter provides data for a select number of regional and international entities
which manage funds from the UAE. According to data for selected asset managers,
there were 108 funds (not counting different classes separately) sponsored by these
entities as of end-2012. Of these, 26 were sharia compliant funds. Data for the assets of
these funds are not fully complete, but asset aggregation for funds that have published
their size comes to US$ 2.98 billion. Characteristics of these funds are provided below to
the extent permitted by severely limited data availability. There were 45 locally domiciled
funds (with assets under management of US$ 1.1 billion) in the United Arab Emirates, of
which 10 were sharia compliant (with assets of US$ 145 million). There were 21 funds
(with assets under management of US$ 704 million) that indicated the UAE as its
geographic focus. There also a large number of third party foreign funds that asset
managers also market which are not covered in this section (DIFC data are covered).
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