Global Trends Number <strong>of</strong> Mutual Funds by Country COUNTRY 2008 2009 2010 2011 <strong>2012</strong>Q2 World 68,978 67,933 69,890 73,033 73,731 1 Luxembourg 9,351 9,017 9,353 9,462 9,449 2 Korea, Rep. <strong>of</strong> 9,384 8,703 8,687 9,064 9,302 3 United States 8,022 7,684 7,580 7,637 7,663 4 France 8,301 7,982 7,791 7,744 7,595 5 Brazil 4,169 4,744 5,618 6,513 7,016 6 Japan 3,333 3,656 3,905 4,196 4,303 7 Ireland 3,097 2,721 2,899 3,085 3,109 8 Canada 2,015 2,075 2,117 2,655 2,799 9 Spain 2,944 2,588 2,486 2,474 2,393 10 Chile 1,484 1,691 1,912 2,150 2,221 11 Germany 1,675 2,067 2,106 2,051 2,089 12 United Kingdom 2,371 2,266 2,204 1,941 1,926 13 Belgium 1,828 1,845 1,797 1,723 1,573 14 Austria 1,065 1,016 1,016 1,003 992 15 South Africa 884 904 943 947 951 16 China 429 547 660 831 930 17 New Zealand 643 702 700 709 710 18 India 551 590 658 680 697 19 Switzerland 572 509 653 664 673 20 Italy 742 675 650 659 629 21 Liechtenstein 335 348 409 437 582 22 Taiwan 443 460 487 534 549 23 Denmark 489 483 490 500 502 24 Sweden 508 506 504 508 479 25 Mexico 431 407 434 464 474 26 Russia 528 480 462 472 466 27 Netherlands - - - 495 459 28 Norway 530 487 507 507 404 29 Finland 389 377 366 368 373 30 Turkey 304 286 311 337 347 31 Argentina 253 252 254 281 292 32 Saudi Arabia 262 244 243 249 241 33 Poland 210 208 214 226 237 34 Greece 239 210 213 196 197 35 Portugal 184 171 171 173 172 36 Hungary 270 264 276 152 160 37 Bahrain - Local 142 138 129 127 38 Pakistan 83 96 125 137 141 39 Slovenia 125 125 130 137 137 40 Bulgaria 81 85 90 92 90 41 Czech Republic 76 78 80 80 79 42 Malta - - - 59 64 43 Costa Rica 85 64 68 63 63 44 Romania 52 51 56 105 60 45 Slovakia 56 54 58 63 59 46 Philippines 43 41 43 47 48 47 Trinidad & Tobago - 36 35 36 36 Source: Investment Company Institute, Washington, DC, <strong>2012</strong>. GCC Central <strong>Bank</strong>s 36
Global Trends Selected Data by Country Average Size <strong>of</strong> Fund (US$ mn) Nominal GDP (US$ mn) Market Capitalization (US$ mn) COUNTRY <strong>2012</strong>Q2 COUNTRY <strong>2012</strong> COUNTRY Jul-12 World 337 World 71,277,364 World 51,117,047 1 United States 1,590 United States 15,653,366 United States 16,718,967 2 United Kingdom 445 China 8,250,241 China 5,887,244 3 Switzerland 437 Japan 5,984,390 Japan 3,553,800 4 China 399 Germany 3,366,651 United Kingdom 3,355,275 5 Sweden 381 France 2,580,423 Canada 1,997,538 6 Ireland 366 United Kingdom 2,433,779 France 1,624,238 7 Canada 280 Brazil 2,425,052 Germany 1,518,544 8 Italy 267 Italy 1,980,448 Australia 1,323,864 9 Luxembourg 248 Russia 1,953,555 India 1,255,912 10 Mexico 221 India 1,946,765 Switzerland 1,214,570 11 Europe 210 Canada 1,770,084 Brazil 1,133,944 12 Norway 208 Australia 1,542,055 Korea, Rep. <strong>of</strong> 1,117,061 13 France 184 Spain 1,340,266 Taiwan 804,171 14 Denmark 181 Mexico 1,162,891 Russia 766,122 15 Finland 174 Korea, Rep. <strong>of</strong> 1,151,271 Sweden 561,797 16 Trinidad & Tobago 171 Turkey 783,064 Spain 536,733 17 Japan 170 Netherlands 770,224 Mexico 523,660 18 Brazil 146 Saudi Arabia 657,049 South Africa 485,683 19 Netherlands 146 Switzerland 622,855 Italy 483,145 20 India 140 Sweden 520,256 Saudi Arabia 365,477 21 Germany 139 Norway 499,827 Chile 303,597 22 South Africa 136 Belgium 476,796 Turkey 292,619 23 Taiwan 103 Argentina 474,812 Netherlands 289,744 24 Saudi Arabia 88 Poland 470,354 Belgium 289,491 25 Poland 85 Taiwan 466,054 Norway 278,017 26 Austria 81 Austria 391,469 Denmark 241,251 27 Spain 77 South Africa 390,919 Philippines 226,577 28 Philippines 62 Denmark 309,180 Poland 164,512 29 Liechtenstein 57 Chile 268,278 Finland 161,077 30 Czech Republic 54 Greece 254,978 Qatar 125,764 31 Belgium 50 Finland 247,189 Austria 107,145 32 Slovakia 48 Philippines 240,664 Ireland 107,109 33 Hungary 46 Pakistan 230,525 Portugal 67,297 34 Malta 45 Portugal 210,620 New Zealand 46,784 35 Turkey 43 Ireland 204,710 Pakistan 44,873 36 Bahrain 39 Czech Republic 193,513 Greece 39,881 37 Portugal 38 Qatar 184,566 Czech Republic 36,301 38 New Zealand 38 Romania 171,401 Argentina 26,920 39 Romania 38 New Zealand 166,923 Luxembourg 23,502 40 Argentina 30 Hungary 128,844 Hungary 20,406 41 Pakistan 27 Slovakia 91,186 Bahrain 14,075 42 Korea, Rep. <strong>of</strong> 26 Luxembourg 55,287 Romania 13,381 43 Costa Rica 25 Bulgaria 50,806 Trinidad & Tobago 11,513 44 Greece 23 Slovenia 45,421 Slovenia 5,871 45 Chile 16 Costa Rica 44,884 Slovakia 5,127 46 Slovenia 16 Bahrain 26,509 Bulgaria 5,115 47 Russia 6 Trinidad & Tobago 23,837 Malta 3,584 48 Bulgaria 3 Malta 8,415 Liechtenstein 49 Liechtenstein 4,000 Costa Rica 50 Source: Investment Company Institute, Washington, DC, <strong>2012</strong>. IMF. Reuters 37
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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 Industry Perspect
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Regulatory Trends identify higher-r
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Regulatory Trends External Fund Ma
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Dubai International Financial Centr
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Bahrain / Kuwait Exchange Traded Fu
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Bahrain / Kuwait Exchange Traded Fu
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Bahrain / Kuwait Exchange Traded Fu
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Bahrain / Kuwait Exchange Traded Fu
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Bahrain / Kuwait Exchange Traded Fu
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Bahrain / Kuwait Exchange Traded Fu
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United Arab Emirates / Egypt Exchan
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United Arab Emirates / Egypt Exchan
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United Arab Emirates / Egypt Exchan
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United Arab Emirates / Egypt Exchan
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Oman / Saudi Arabia Exchange Traded
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Oman / Saudi Arabia Exchange Traded
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Oman / Saudi Arabia Exchange Traded
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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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Sharia Compliant Funds Average Asse
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Sharia Compliant Funds and saw net
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Sharia Compliant Funds Top MENA Sha
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Exchange Traded Funds Regional Back
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Exchange Traded Funds MENA Focused
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Bahrain to register a deficit of 4.
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Bahrain Number of Mutual Funds (end
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Bahrain Average Assets of Funds (mi
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Bahrain Number of New Funds (end of
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Bahrain Fund Assets by Investor Typ
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Bahrain Top 10 Bahrain Domiciled Mu
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Bahrain Focus: Industry Perspective
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Bahrain CBB Rulebook Volume 6 was i
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Bahrain - Directory Oman Nr Company
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Bahrain - Directory Oman 20 Global
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Bahrain - Directory Oman 42 Seera I
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Egypt Egyptian officials to ask for
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Egypt Breakdown of Domestic Funds b
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Egypt Top 10 Egypt Domiciled Funds
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Egypt - Directory Oman Nr Company P
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Egypt - Directory Oman 21 Housing &
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Kuwait Economic Developments In 201
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Kuwait Fund Operators, Breakdown by
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Kuwait In 2012Q2, 86% of domestic f
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Kuwait In 2011, assets of mutual fu
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Kuwait - Directory Oman Company Pho
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Kuwait - Directory Oman Al-Madina f
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Kuwait - Directory Gulf Investment
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Kuwait - Directory Manafae Investme
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Morocco
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Morocco Fund Trends According to Ba
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Oman Overview As of June 2012, ther
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Oman - Directory Oman Company Phone
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Qatar The non-oil sector will act a
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Qatar Qatar Central Bank publishes
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Qatar Breakdown of Investments Unde
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Qatar Focus: Recent developments in
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Qatar business. In 2012, over 60% o
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Qatar Count QFC # Firm Name License
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Qatar Investment Funds Licensed in
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Qatar Directory of Investment Compa
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Qatar - Directory Oman Investment H
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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