Mutual funds industry grows to $16bn in Bahrain

01 April 2008
The value of assets managed by mutual funds in Bahrain grew by 73 per cent in 2007 to $15.6bn, following the introduction of legislation to allow hedge funds and other higher risk alternative investment companies to register in the country.

Almost 300 new funds were established in Bahrain during 2007.

Other parts of the industry also grew strongly over the past year. Foreign funds registered in Bahrain also recorded a 75 per cent rise in assets to $11.1bn. The value of Islamic funds grew by 87.5 per cent to $1.3bn, invested through 87 funds, compared to $750m invested through 80 funds in 2006.

"The growth during 2007 was across the board, in funds investing in the region, overseas and in Islamic products,” says Mohammed Ayman al-Tajer, director of financial institutions supervision at the Central Bank of Bahrain.

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