The MENA funds industry registered $64.5 billion in assets under management (AUM) at the end of Q1 2011 for funds domiciled in the region, Zawya, a leading online provider of business intelligence, said in its new quarterly funds ranking results.
With a total of 243 domiciled funds, Saudi Arabia continues to lead the way with $23.7 billion in AUM followed by Morocco with $13.2 billion and Kuwait with $8.9 billion.
Compared to the previous quarter, only two- countries posted net funds inflow: Jordan ($1.6 million) and Oman ($1.3 million). All others showed net outflow.
Of the 12 sampled asset types, five posted net inflow, while the rest showed net outflow. Fixed Income funds had the largest net inflow with $139 million, while Trade Finance funds were the bigger losers with net outflow of $1.52 billion.
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