Quarter Highlights MENA Mutual Fund 2Q2015

• Saudi Arabia liberalized its market as of June 2015 and attracted almost 2 Billion dollars as a result of the opening of the market to foreign investors

• Total size of Mutual Funds industry in 2Q2015 reaches 79 Billion dollars

• Growth of Islamic Mutual Funds reaches 26 Billion dollars as of 2Q2015

• MENA market witnessed 26 fund launches.

Contents

MENA Mutual Funds Analytics .............. 2

Mutual Fund Quarterly Breakdowns ..... 3

Q2

MENA MUTUAL FUNDS INSIGHT – 2Q 2015

mena.thomsonreuters.com

Q2 2015 MENA MUTUAL FUNDS INSIGHTS

2

MENA Mutual Funds Analytics

MENA Mutual Funds Trend by Value and Volume

3Q14

AUMs $ (M) No. of Funds

4Q14 1Q15 2Q15

66,854 62,686 76,366 79,610

808 806

1,003986

Mutual Fund Quarterly Breakdowns – Assets Under Management

By Geographic Focus and Compliance

Fund Compliance by Assets under management

Morrocco

Saudi Arabia

Egypt

Other

Kuwait

Tunisia

GCC

MENA

Conventional $ (M)Islamic $ (M)

17.34 / 31,749.94

2.16 / 2,349.63

1,009.57 / 1,938.15

2,349.99 / 4,278.22

215.98 / 6,855.45

1,089.80 / 778.29

294.27 / 438.32

22,542.81 / 3,699.90

Financial ServicesIndustrial Manufacturing

27,522.0035%

Real EstateLeisure and TourismConstructionAgricultureHealth CareServices

Islamic $ (M)Conventional $ (M)

52,088.2265%

Q2 2015 MENA MUTUAL FUNDS INSIGHTS

3

MENA Funds Industry by Funds Flows ($m)

Fund Flows 1Q15 - 2Q15

1,250

Saudi Arabia

Lebanon

Qatar

Egypt

GCC

Tunisia

Jordan

Oman

Kuwait

UAE

MENA

Morocco

1,495.50

72.07

19.39

4.25

0.14

-0.05

-0.31

-18.85

-22.02

-81.74

-198.78

-234.55

Top MENA Mutual Funds by Sector (%)Sector Fund Name Fund Manager Quarterly Return (%)

Islamic Equity KSB IPO Fund KSB Capital CJSC 21.79%

Conventional Equity BMK IPO Fund Bait Al Mal Al Khaleeji (BMK) JSC 35.98%

Islamic Sukuk Al Hilal MENA Fund Ahli Bank SAOG – Asset Management Division (AMD) 7.88%

Conventional Fixed Income Wafra Bond Wafra International Investment KSCC 64.74%

Conventional Money Market Global KD Money Market Global Investment House KSCC 3.94%

Islamic Money Market United Bank Fund (Rakhaa) CI Asset Management 2.01%

Fund Flows by Asset Type ($m)

Fund Flow Change 1Q15-2Q15

1,250Islamic Equity

Conventional Money Market

Islamic Money Market

Islamic Sukuk

Conventional Equity

Conventional Fixed Income

1,016.33

734.46

209.98

49.50

-54.84

-981.85

Q2 2015 MENA MUTUAL FUNDS INSIGHTS

4

Sector Performance (%) – Quarterly Comparison

0.09

2.29

1.09

-8.37

0.1

2.123.31

-13.27

1.57

1.19

0.010.01

0.991.03

0.50

-0.50

0.01

0.31

-1.11

0

0.12

0.20

-0.64

0.20

Conventional Equity Islamic Equity

Conventional Fixed Income Conventional Money Market

Islamic Sukuk Islamic Money Market

Q2 2015 MENA MUTUAL FUNDS INSIGHTS

5

MENA Funds LaunchesFund Name Fund Manager Asset Type Geographic Focus Type

Saudi Fransi GCC IPO Fund Saudi Fransi Capital JSC Equity Saudi Arabia Islamic

CFG Cash Secure CFG Cash Secure Money Market Morocco Conventional

FCP Smart Equity 2 Smart Asset Management SA Equity Tunisia Conventional

Al-Nefaie IPO Fund Al-Nefaie Investment Group S.J.S.C Equity Saudi Arabia Islamic

Al-khair Capital IPOs Fund Alkhair Capital SJSC Equity Saudi Arabia Islamic

Emirates NBD SICAV Em Mena Fix Inc B USD C MDO Management Company SA Bond MENA Conventional

Audi Freestyle Saudi Equity Fund Audi Capital JSC Equity Saudi Arabia Islamic

Mawazeen International Fund Kuwait Financial Centre SAK Mixed Assets Global Conventional

Derayah IPO Fund Derayah Financial SJSC Equity Saudi Arabia Islamic

Emirates NBD SICAV Em Mena High Fd Class A USD C MDO Management Company SA Equity MENA Conventional

Alinma IPO Fund Alinma Investment Co Equity Saudi Arabia Islamic

Emirates NBD SICAV Em Glob Qtly Inc A GBP MDO Management Company SA Mixed Assets Global Conventional

Emirates NBD SICAV Em Mena Fix Inc Fd I USD D MDO Management Company SA Bond MENA Conventional

CIB Takamol Balanced Fund CI Assets Management EJSC Mixed Assets Egypt Conventional

Emirates Active Managed Fund B GBP C MDO Management Company SA Mixed Assets Global Conventional

Emirates Mena Top Companies Fd A USD C MDO Management Company SA Equity MENA Conventional

MEFIC Local Equity Fund Middle East Financial Investment CJSC Equity Saudi Arabia Islamic

SAIB GCC Equity Income Fund Al Istithmar for Securities & Brokerage Co Equity Saudi Arabia Islamic

Emirates Mena Top Companies Fd I USD C MDO Management Company SA Equity MENA Conventional

Emirates Global Sukuk A USD Cap MDO Management Company SA Bond Global Islamic

RMA Rendement MT RMA Capital S.A Bond Morocco Conventional

RMA Rendement CT RMA Capital S.A Bond Morocco Conventional

RMA Corporate Bond RMA Capital S.A Bond Morocco Conventional

Alpha Secure RED MED Asset management SA Bond Morocco Conventional

Emirates MENA Fixed Income B GBP C MDO Management Company SA Bond MENA Conventional

Q2 2015 MENA MUTUAL FUNDS INSIGHTS

6

MENA Top 5 Fund Managers in 2Q15 by Size ($M)

MENA Pipeline 2Q15

Fund Name Country Total AuMs ($m)

Wafa Gestion SA Morocco 9,272.76

NCB Capital CJSC Saudi Arabia 8,260.53

CDG Capital Gestion SA Morocco 5,148.81

Riyad Capital CJSC Saudi Arabia 4,673.56

Samba Cap & Invest Mgmt Saudi Arabia 4,072.05

Fund Name Country Country of Domicile Asset Type

Aloula Geojit Capital IPO Fund Aloula Geogit Capital Company Saudi Arabia Equity

Al Ataa GCC Equity Fund Samba Capital and Investment Management Company Saudi Arabia Equity

For further information, contact funds.zawya@thomsonreuters.com

Important Notes1 This report includes only mutual funds (which are domiciled in the MENA region)

managed by asset management companies based in the MENA region.2 This report excludes real estate funds.3 Data is correct as of June 2015, Source: Lipper 4 AUM data includes only funds for which size is disclosed. Prepared by : Rayane Abbas; Email: Rayane.Abbas@thomsonreuters.com Amany Haddad; Email: Amany.Haddad@thomsonreuters.comFor further information, please contact funds.zawya@thomsonreuters.com

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