Assets managed by the Gulf’s roughly 100 asset management companies totalled $26.5 billion, held in some 328 funds, as of December 31, 2011, the Kuwait Financial Centre (Markaz) has revealed.
The findings are contained in Markaz’s new report, titled ‘GCC Asset Management & Investment Banking Survey 2012’, released at the weekend. The report takes an in-depth look at the industry across the GCC in terms of assets under management (AUM), number and types of funds managed, top managers across the various markets, fund costs, benchmarks and performance ranking and a number of other parameters. Moreover, the report discusses the investment banking aspect in terms of equity and debt activity, M&A and IPOs.
Geographically, Saudi Arabian funds account for 66 per cent of the total ($17.5bn), followed by Kuwaiti funds with 16 per cent share and GCC/MENA mandated funds with 14 per cent share. In terms of products, money market funds lead the pack with a 53 per cent share, followed by equities at 42 per cent, while the remainder is in fixed income and specialised funds. Of the total, Islamic funds manage $17bn (64 per cent) in assets.
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