Saudi Arabian mutual funds account for 66 percent of the total GCC asset management industry ($17.5 billion), followed by Kuwaiti funds with 16 percent share and GCC/MENA mandated funds with 14 percent share, according to a report by Kuwait Financial Centre (Markaz).
GCC asset management industry, with roughly 100 asset management companies, manages $26.5 billion in assets in about 328 funds as on Dec. 31, 2011, the report said.
In terms of products, money market funds lead the pack with a 53 percent share, followed by equities at 42 percent, while the remainder is in fixed income and specialized funds. Of the total, Islamic funds manage $17 billion (64 percent) in assets.
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