15.02.2013 - MENA mutual funds close 2012 with USD60bln AUM
More than 70 mutual funds were launched in the MENA region in 2012, raising total assets under management to USD 60 billion, according to Zawya's MENA mutual funds quarterly bulletin for 4Q-2012. This constitutes a 20% increase from the 58 funds launched in 2011 but a 7% decrease from 2011's AUM. The majority of these funds invested their assets in fixed income instruments as investors are shifting towards safe-haven investments to hedge against market volatility. This rising demand led to an increased supply of bonds and sukuk instruments. According to data compiled by Zawya Bonds and Sukuk monitors, MENA issuance increased from last year by 7% in bonds and 18% in sukuk...............................................Full Article: Source
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