More foreign money expected to flow into GCC funds- survey | ZAWYA MENA Edition

More foreign money expected to flow into GCC funds- survey | ZAWYA MENA Edition:

Three quarters (75 percent) of regional investment professionals expect more money from foreign investors to pour into locally-domiciled funds over the next five years, according to a new study.

United States-based financial services firm State Street’s 2018 Middle East and North Africa Regional Survey found that 14 percent of professionals felt that foreign investment into funds domiciled in Gulf Cooperation Council (GCC) countries would increase by 20 percent or more, while 24 percent felt it would increase by 10-20 percent and 37 percent expected an increase of under 10 percent. Only 7 percent of respondents thought foreign allocations into GCC funds would decline.

The survey covered 306 investment professionals representing sovereign funds, central banks, asset managers and pension funds from around the region, State Street said.