Country specific and pan-GCC equity funds experienced a 46 percent plunge in assets under management from April to Dec 2008, as investor sentiment turned sour, Kuwait Financial Centre (Markaz) revealed on Monday.
Total equity fund assets under management plummeted from nearly $22 billion to less than $12 billion over the eight month period.
Equity fund gains made during the first half of 2008 were sharply reversed as oil prices tumbled from their July peak of $147 and the global financial crisis spread to the region, sapping investor confidence and sending stock markets into a tailspin, according to a report by Markaz.
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