GCC investors optimistic despite volatility
Dubai, October 9, 2012
Financial advisers and retail investors in the GCC are becoming increasingly risk tolerant and optimistic despite local and global economic volatility, regional regulatory uncertainties and the prevailing geopolitical situation.
This lead finding was revealed in the latest edition of the Middle East Investment Panorama report by strategic research consultancy, Insight Discovery.
Being the largest survey of independent financial advisers and wealth managers in the region, this annual report gives panoramic insights into various aspects of the GCC's fast growing and continuously evolving financial services industry.
Insight Discovery conducted this survey in partnership with Amundi Asset Management, Franklin Templeton, Morningstar and Standard Life.
"Broadly speaking, there are more opportunities than challenges for the region's burgeoning financial services industry," said Insight Discovery chief executive Nigel Sillitoe.
"Increasing 'risk tolerance' is a welcome sign for future growth as the industry matures and becomes more sophisticated.
"The GCC's fast growing economies continue to attract expatriates who relocate to this region mostly to save and build wealth.
"This aspect represents a huge opportunity for financial advisers, life insurance companies and international asset managers as an increasing number of savings-oriented expatriates are expected to seek their advice, services and products. The industry remains under the category 'work in progress, but the progress is undeniable'."
The report said that there is a rising number of financial advisers in the GCC who use the products and services of international life insurance companies or international asset management companies, or both.
It revealed that international life companies have become more important as distributors of investment funds sourced from the international asset managers.
In the survey, financial advisers noted that big international asset managers are active in the region but there are still opportunities for new entrants from among the leading life companies.-TradeArabia News Service