Mutual fund assets in the Gulf rose 9 per cent or $2.3 billion (Dh8.45 billion) in the first half of last year, according to a study released yesterday.
The global mutual fund industry regained some lost ground in 2010 and the Gulf Cooperation Council countries (GCC) witnessed a flurry of new funds, according to the GCC Mutual Fund Industry Survey 2010.
The study noted that according to the Investment Company Institute, global mutual fund assets at the end of June last year stood at $21.4 trillion, a jump of 5.4 per cent from a year earlier. Assets under management, however, were still 18 per cent lower than the peak of $26.15 trillion at the end of 2007.
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