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FINANCIAL NEWS
GCC’s domiciled fund assets down by 6% in 2011’s H1
09 Feb 2012
(MENAFN) The GCC Mutual Fund Industry Survey 2011 showed that in 2011’s first six months, the GCC’s domiciled fund assets fell by 6 percent from the end of 2010, reported The Peninsula.
The survey revealed that in the period; net outflows from these funds reached USD1.63 billion, with the rest of the drop in fund assets being attributed to market movements.
On the other hand, domiciled fund assets in 2010 rose by 7 percent, with net inflows of only USD205 million.
It is worth noting that as of June 2011, GCC mutual fund assets totaled USD34.1 billion, and nearly 480 funds were active in the region.
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