Jul 11 2011 |
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MENA's leading funds maintain top ranks in Q1 2011
Zawya Funds Ranking offers unbiased, accurate and independent intelligence
First-of-its-kind ranking system paves the way for the entire MENA funds industry to provide more transparency and consistency
This quarter, 11 funds succeeded in maintaining their leading positions on top of the ranking, while the 10 other categories all have new funds in first place. The Q1 2011 ranking consists of 15 conventional and six Islamic categories, a total of 21, an increase from last quarter's 19 categories. Two new categories have been added: Egypt Balanced Conventional and Egypt Equity Islamic.
Among the top-ranked funds in Q1 2011 conventional categories are: Al Mal UAE Equity Fund in the UAE Equity conventional category, Markaz Arabian Fund in the MENA Equity conventional category, Gulf Gate Fund in the GCC Equity conventional category, Al Arabi Saudi Equity Fund in the Saudi Arabia Equity conventional category, NBK Qatar Equity Fund in the Qatar Equity conventional category, and Arab African International Bank Investment Fund in the Egypt Equity conventional category.
Josiane Assaad, Product Manager - Mutual Funds at Zawya , commented: "Zawya Funds Ranking is the only ranking of its kind in the region and has been a game-changer for the industry, where it benefits both fund managers and investment professionals. As the regional funds industry is now under more scrutiny, fund performance remains key but transparency is also a vital component."
The MENA funds industry registered USD64.5 billion in assets under management (AUM) at the end of Q1 2011 for funds domiciled in the region. With a total of 243 domiciled funds, Saudi Arabia continues to lead the way with USD23.7 billion in AUM followed by Morocco with USD13.2 billion and Kuwait with USD8.9 billion.
Compared to the previous quarter, only two- countries posted net funds inflow: Jordan (USD1.6 million) and Oman (USD1.3 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 USD139 million, while Trade Finance funds were the bigger losers with net outflow of USD1.52 billion.
Methodology:
For Q1 2011 Zawya Funds Ranking methodology has been updated. The minimum fund size has been set at USD5 million with three years of historical data and each category should contain a minimum of five funds. The ranking process is made up of four key components with different weights: returns (35%), volatility (15%), fees (15%) and compliance & consistency (35%).
To view the comprehensive list of the Q1 2011 Zawya Funds Ranking results, please go to the Zawya Funds Monitor at www.zawya.com/funds
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About Zawya
Zawya
is the leading online business intelligence provider focusing on the Middle East & North Africa, enabling nearly 1 million professionals worldwide to find and connect to the right business and investment opportunities in the region. With unique content and tools including detailed company profiles, timely aggregated news though
Zawya
-Dow Jones, leading industry and asset class research, an exclusive online network, and direct access to a team of 40+ experts covering most sectors,
Zawya
provides its users with the intelligence they need to conduct business in MENA. Headquartered in the UAE,
Zawya
has physical presence in Saudi Arabia, Lebanon, and the USA. For more information, please visit www.zawya.com
For further media information and to schedule interviews with
Zawya
executives, please contact:
Jerome Leroux
Memac Ogilvy Public Relations
+971 056 177 3635
jerome.leroux@ogilvy.com
© Press Release 2011
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