MENA Asset Management Survey 2012 - National Bank of Abu Dhabi

Gulf Cooperation Council Region
Industry Overview
Official aggregate GCC fund industry data are still not readily available. Bahrain, Kuwait,
Qatar, and Saudi Arabia publish some official data on the mutual fund industry in those
countries. Saudi Arabia has the largest domestic fund industry, but Bahrain, Kuwait, and
United Arab Emirates are also home to a large number of investment companies and
asset managers.
Mutual Fund Numbers and Assets – Official Data
(US$ million where relevant, 2011 except where indicated otherwise )
Year
Domestic
Funds
Number of
Foreign
Funds
Total
Sharia Compliant
Domestic Funds
Domestic
Funds
Fund Assets
Foreign
Funds
Total
Bahrain 2011 127 2,711 2,838 101 4,983 3,395 8,378
Kuwait* 2011 111
117
(2009) - 54 5,797 8,215 14,012
Oman - - - - - - - -
Qatar** 2011 9 - - 3 2,940 - -
S. Arabia 2011 239 - - - 21,918 - -
UAE - - - - - - - -
DIFC-UAE 2011 3 1,804 1,807 - 309^ 2,400^ 2,709^
Source: Central Banks *In Kuwait, fund asset data are from Central Bank
statistical bulletins – these differ significantly from those reported in the Central
Bank Economic Bulletin.
** Figure provided indicates funds under
management at entities supervised by Qatar Central Bank. Data from non-Central
Bank sources are not comprehensive and indicative only. ^September 2012
At the end of June 2012, this survey identified 522 funds (with assets of US$ 34.5
billion) that comprise its dataset and includes locally domiciled funds, local company
sponsored funds irrespective of domicile, and funds with the GCC or one of the
constituent markets as their geographic focus. The dataset covers 421 locally domiciled
funds (assets under management US$ 31.54 billion), and 307 funds with the GCC or one
of the constituent markets as their geographic focus (assets under management US$
28.2 billion). In terms of locally domiciled funds, Saudi Arabia accounted for 60% of the
count, but 74% of assets based on the selected data (solely indicative given its
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