The affiliated member CFA societies for investment professionals in nine Middle Eastern countries have unveiled the full results from their first Middle East Market Sentiment Survey, tracking the views of nearly 200 CFA charterholders in the region on the outlook for markets, the importance of trust and ethics, and the role of education in professional excellence.
In the United Arab Emirates, 59% of CFA charterholders and members expect 2011 to be a year of growth for their businesses or organizations, compared to 43% of their peers elsewhere in the region. And despite political, environmental, and economic troubles seen around the region and the world, most respondents believe stocks will be the best-performing asset class this year, followed by commodities.
Still, CFA charterholders anticipate divergent performance from the region's equity markets. Stocks in Qatar are expected to be the strongest performers in 2011, followed by Saudi Arabia and Abu Dhabi, the venue for the Second Annual Middle East Investment Conference, which gets under way today (March 22). Conversely, respondents are the most pessimistic about Bahrain, with 74% of respondents anticipating negative or flat growth this year. In Dubai, 59% of respondents anticipate negative or flat growth. In Kuwait, the figure is 56%.
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