Fixed Income

GCC Fixed Income: Ratings outlook of Saudi Arabia and Bahrain upgraded to stable

Saudi Arabia and Bahrain saw outlook upgrades in November. Moody’s has revised Saudi Arabia’s outlook from negative to stable on expectation that country would reverse most of its 2020 debt increase while maintaining fiscal buffers. S&P has revised Bahrain's outlook to stable from negative, citing the fiscal reforms undertaken to strengthen its economy. Higher oil prices and support from other GCC members are also expected to help the country improve its fiscal position. The countries had also issued bonds during...

GCC Fixed Income: UAE issues debt for the first time at federal level

UAE federal government has raised USD 4 billion in its debt capital market debut with orders over USD 22.5 billion, an oversubscription of 5.6x. This is the first time that UAE raises funds at a federal level. The bonds were issued in three tranches with 10, 20 and 40 year tenors. It plans to issue more dollar-denominated bonds in 2022 and would also be exploring green bonds and local currency debt. Another issuance is that of Saudi Arabia. The country...

صناعة إدارة الأصول في الإمارات العربية المتحدة – لمحة عامة

According to Marmore’s UAE Asset Management report, the UAE asset management industry manages USD 1,264.8mn in assets in about 31 funds as of 21st July, 2015. In terms of products, equity funds lead the pack with 69% share, followed by specialized funds at 20%. Remainder of the assets is spread across money market and fixed income funds. Of the total assets, Islamic funds manage USD 435mn (34.4%) in assets and rest is conventional funds. In terms of the number of funds,...