Pamela Chikhani, Head of Investment Opportunities at Zawya
Zawya, the leading source of financial information in the Middle East, announced today its new quarterly Funds Ranking results for Q4 2010, the first and only independent funds ranking system in the Middle East.
This quarter, 14 funds succeeded in maintaining their leading positions on top of the ranking, while the MENA Equity Conventional, GCC Equity Conventional, GCC Equity Islamic, Saudi Arabia Money Market
Conventional and Morocco Equity Conventional Categories all have new funds in first place. The Q4 2010 ranking consists of 14 conventional and five Islamic categories, totaling 19 in all.
Commenting on the Q4 ranking results, Pamela Chikhani, Head of Investment Opportunities at Zawya said, “We have seen increased competition between the funds as well as forward momentum in their performance, a positive sign for the MENA region. Zawya aims to provide the MENA region with an accurate reflection of the Top performing funds.”
In the 4th Quarter of 2010, the MENA Funds Industry registered USD 68 Billion in Assets under Management (AUM) for funds domiciled in the region. With a total of 243 domiciled funds, Saudi Arabia accounted for over USD 25 Billion in Assets Under Management (AUM), the highest in the MENA region. Moreover, 15 new funds were launched as of Q4 2010, seven of which are Islamic.
The ranking system benefits both Fund Investors, who can screen regional funds and identify investment opportunities, as well as Fund Managers, who are rewarded for their hard work and achievements by attracting more investors. Emphasizing compliance and disclosure, the Zawya Funds Ranking is produced independently and not sponsored by any party.
The report addresses the increasing demand for accurate information, analysis and transparency in the regional funds industry. The ranking process is made up of four components – returns (30%), volatility (20%), fees (20%) and compliance (30%). All funds should have a size of USD 15 million or more, with a minimum of three years of historical data and each category should contain a minimum of five funds.