TAILIEUCHUNG - INVESTMENT FUNDS IN MENA: WILLIAM MAKO AND DIEGO SOURROUILLE* DECEMBER 2010

The Project Bond initiative: One example of the use of such leveraging mechanisms is the Project Bond Initiative launched by the European Union. The principal idea behind the Europe2020 Project Bond Initiative, is to provide EU support to project companies issuing bonds to finance large-scale infrastructure projects. The aim is to access new pools of capital like institutional investors. The initiative will create a mechanism for enhancing the credit rating of bonds issued by project companies themselves. There are various ways this could be achieved: one possibility is for the EIB to provide the higher-risk subordinated debt finance to credit. | FINANCIAL FLAGSHIP INVESTMENT FUNDS IN MENA WILLIAM MAKO AND DIEGO SOURROUILLE DECEMBER 2010 The World Bank The authors are grateful to Zsofia Arvai for her suggestions and contributions to the text. The authors are also grateful to Roberto Rocha Yisr Barnieh and Fadi Khalaf for useful comments and suggestions to earlier drafts. Abstract Privately-managed funds that invest in a wide variety of asset classes are beginning to develop in MENA countries. In terms of assets under management GDP however investment funds in MENA countries are still small relative to those in countries with similar economic and demographic characteristics. Well-run investment funds can offer individual investors especially small ones an efficient means of diversification. They may contribute to market liquidity price discovery and better corporate governance. MENA governments can do more to promote investment fund development - by raising investor protections to IOSCO standards allowing funds to invest in additional asset classes . real estate securities development local bond markets selling down residual government shareholdings in state-owned enterprises further liberalizing capital flows as well as investment - both portfolio and directly in fund management operations - by foreign fund managers selectively encouraging development of nonbank securities firms and encouraging acquisition of smaller non-competitive funds and fund managers by larger peers. 2 Table of Contents 1. 2. Development of Investment Funds in 3. Addressing the lack of development of investment funds in . Investor . Product Tables Table 1. Overview of MENA Investment Funds Table 2. Numbers of Funds By Type Table 3. Assets Under Management By Type of Fund Table 4. National Market Share By Fund Type Table 5. Sharia vs. Conventional Assets Under Management 2009. 10 Table 6. Average Size

• Quỹ đầu tư
• Immunological and Molecular
• Renal Myofibroblasts
• Maternal Renal Dysfunction
• Proteomic Biomarkers
• Early Detection
• Acute Kidney Injury
• trình bày báo cáo
• tài liệu báo cáo khoa học
• báo cáo y học
• công trình y học
• nghiên cứu y học
• Feeding Influences
• Weight of Children
• Breastfeeding Reduce
• báo cáo khoa học
• báo cáo hóa học
• công trình nghiên cứu về hóa học
• tài liệu về hóa học
• cách trình bày báo cáo
• Cores Positive
• Oxidative and Nitrosative
• Ischemic Acute
• Origin of Renal Myofibroblasts