The UAE has the third largest mutual fund industry in the GCC amounting to $12 billion with potential to grow to $50 billion by 2010 but the regulatory environment for the funds must improve, an expert told a seminar Sunday. Haissam Arabi, managing director of Shuaa Capital, was quoted as saying by the Gulf News that the foreign investors might shy away from funds if they are not well-regulated.
The industry potential for the GCC region as a whole is hitting $160 billion by 2010 and $300 billion by 2015, he noted.
