GCC markets have posted chaotic results in the third quarter, reflecting global markets, while funds registered for sale in the region have plummeted, according to Lipper.
Contradicting the perceived insulation of the region, the Qatari and Dubai markets have plunged sharply like their Western counterparts, losing nearly 25% during the quarter and sending year-to-date losses to 6% and 30.5% respectively. Bahrain has tumbled 21.5% in Q3 and is -2.8% on a YTD basis, while the Saudi and Abu Dhabi bourses slumped nearly 20.5%. Kuwait registered a -17.56% return, yet is the only market to record a positive YTD performance, gaining 4.6%. Funds registered for sale in the GCC also saw dismal performance, falling 14.89% for Q3 in 2008. Equity funds were the biggest ...
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