There are more than 1,000 funds domiciled in the Middle East and North Africa region, with Saudi Arabia accounting to close to 250 funds.
Zawya has compiled data on the best and worst performing funds in the UAE, Saudi Arabia and Egypt in the first nine months of 2019 and the past five years.
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The Saudi Stock Exchange (Tadawul) announced in June the inclusion of Saudi REITS in the FTSE European Public Real-estate Association (EPRA) Nareit Emerging Market Index.
“The inclusion will raise the level of Saudi REITs and align it with the international best practices, increase level of disclosure and accessibility to the capital market by foreign investors, and broaden the investors base in the Saudi capital market,” Raghu Mandagolathur, head of research at Kuwait Financial Centre (Markaz) told Zawya.
“Assets managed under funds that are domiciled in Saudi Arabia alone account for 86.3 percent of the total assets under management (AUM) in GCC region, followed by Kuwait with 8.6 percent,” Mandagolathur noted.
(Reporting by Gerard Aoun, editing by Seban Scaria)
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