UAE Asset Management

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Pages 65
table
Tables 28
Chart
Charts 29
Price $750

The UAE asset management industry manages USD 783 Mn in assets in about 21 funds. In terms of products, specialized funds lead the pack with 53.1% sha.....

Summary

The UAE asset management industry manages USD 783 Mn in assets in about 21 funds. In terms of products, specialized funds lead the pack with 53.1% share, followed by equity funds at 41%. Remainder of the assets is spread across money market and fixed income funds. In the U.A.E. asset management industry, Islamic funds manage USD 449Mn (57%) in assets and rest are conventional. In terms of the number of funds, there are 16 equity funds, 2 money market and specialized funds and 1 fixed income fund.

In the UAE asset management report, we have provided several metrics which includes market capitalization to GDP ratio, turnover ratio and top 5 blue chips for both Dubai and Abu Dhabi stock exchanges. The report provides data on trend of IPO issuance, conventional bond market issuance (sovereign, quasi sovereign & corporate) and sukuk bond market issuance. The report discusses market participants like pension funds, insurance companies and sovereign wealth funds and their asset allocation strategies. The chapter on mutual fund analysis provides details of funds by asset type (Number of Funds & assets under management), top 5 fund managers & asset-weighted returns of various fund types. Performance of each fund under various fund types have also been analyzed (YTD returns, alpha, fund size).

TOC

  1. Executive Summary
  2. Industry Architecture: Needs focus on product diversification
  3. Mutual Fund Analysis
    • AuM Break Up – Equity funds dominate the market
    • Leadership Position – Top 5 companies enjoy 94% market share
    • Fund Performance: Poor performance due to low oil price
    • Equity Funds : UNB’s funds performed the best in terms YTD returns
    • Fixed Income Funds: Lack of options for investment
    • Money Market Funds: Outperformed the benchmark
    • Specialized Funds: Highest in terms of value of funds in UAE
    • Managed Assets: AuM to GDP ratio increases to 0.6%
  4. Market Segments: More scope for debt markets to develop
    • Capital Markets: Dubai and Abu Dhabi witnessed loss after fall in oil price
    • Debt Market: Stable credit rating
  5. Market Participants: Predominately Government
    • Pension Funds: Lack of private participation
    • Insurance Companies: Largest insurance market in GCC
    • Sovereign Wealth Funds: Low investments in local market
    • Foreign Investors: restrictions on ownership
    • Retail Participation: Predominantly individual
  6. Frontier to Emerging Markets and MSCI Stance
  7. Industry Challenges
  8. Regulatory Bodies & Developments
    • Market Regulator: Expected to streamline commodities market
    • Corporate Governance in UAE: New code to enhance the transparency
    • Market Maker regulation: Expected to increase liquidity
    • UAE new investment fund and its amendment: Ease for foreign funds
    • DIFC: 100% foreign ownership makes it attractive
  9. Annexure

Tables & Charts

Tables
2.1: Product Profile of Different Exchanges in the UAE
3.1: Top 5 Blue Chips, Dubai Financial Market 
3.2: Top 5 Blue Chips, Abu Dhabi Securities Exchange
3.3: IPO Performance in UAE, 2014
3.4: Top 5 Bond Issuance in 2014 (By Size)
3.5: UAE- Sukuk Issuance -2014
3.6: Alternative Funds – UAE
4.1: Asset Allocation ADRPBF
4.2: Asset Allocation: UAE Insurance Companies (2010 -14)
4.3: Sovereign Wealth Funds: UAE
4.4: Asset Allocation by region (ADIA)
5.1: Current Stance of MSCI
6.1: Assets under Management - Summary (July 2014)
6.2: Top 5 Fund Managers - 2014
6.3: Top Five Fund Managers based on returns (July 2014- July 2015 (Equity Conventional)
6.4: Islamic Equity Funds
6.5: Islamic Money Market Funds
6.6: Specialized Funds
7.1: Average Fund Size in the UAE
8.1: IPO Regulations: UAE vs International Standards
8.2: SWOT Analysis
9.1: Consolidated Fund manager Rankings
9.2: UAE Equity Funds: Conventional
9.3: UAE Equity Funds: Islamic 
9.4: UAE: Fixed Income Fund
9.5: UAE: Money Market Fund
9.6: UAE: Specialized Fund - Islamic
9.7: IPO Issues 2014 -2015
9.8: Bond Issues 2014-2015
9.9: UAE- Sukuk Issuance -2014
9.10: UAE Private Equity Funds
9.11: Investment Funds Multiple Matrix 

Charts
2.1    Industry Architecture
2.2    Fund Distribution Network
3.1    UAE Fund Break Up Conventional and Islamic
3.2    UAE Fund Break Up by Asset Type
3.3    DFM Index Return
3.4    Abu Dhabi Securities Exchange Returns
3.5    Asset-Weighted Returns, July 2015- July 2016 (in %)
3.6    Allocation of Daman Islamic Fund
4.1    DFM-Market Capitalization/ GDP (2010-2015)
4.2    Turnover Ratio  (DFM) (2008- 2015) – Higher ratio witnessed after recovery from Dubai world crisis
4.3    Sector Weightage, DFM – Real estate and financials dominate the index
4.4    ADX- Market Capitalization/ GDP (2010-2015)
4.5    Turnover Ratio (ADX) (Total value Traded/Market Cap) (2010-2015)
4.6    Sector Weightage, Abu Dhabi: Financials dominate the index (46%)
4.7    Trend of IPO issuance (USD Mn)
4.8    Trend of total conventional Bond Market issuance (USD Bn) – increase in corporate bonds
4.9    Sector Wise Bond Issuance, 2015 – majorly from banks
4.10    Sector wise bond issuance, H1 2016 : Government accounts for 64% of the issue by size
4.11    Government Gross Debt (as % of GDP)
4.12    Expected Sovereign Debt Issuance by Country, 2016
4.13    Trend of Sovereign (conventional) Bond Market issuance (USD Bn)
4.14    Trend of Corporate (conventional) Bond Market issuance (USD Bn)
4.15    Trend of Sukuk Bond Market issuance (USD bn)
5.1    GCC Insurance Penetration in 2014 (Premium as a % of GDP) (Total Business)
5.2    GCC Insurance Density in 2014 (Premiums Per-Capita in USD) (Total Business)
5.3    Asset Allocation: UAE Insurance Companies (2010 -14)
5.4    Asset Allocation by Asset Class
5.5    Dubai Financial Markets, value Traded by investor Type
5.6    Abu Dhabi Securities Exchange, value traded by investor type

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