Moody’s: GCC Asset Managers to Weather the Twin-Shocks of Declining Oil Prices and -COVID-19
June 09, 2020
Email Moody’s Investors Service (Moody’s) has stated that the Gulf Cooperation Council (GCC) nations are expected to remain resilient in the face of the dual-shocks imposed by the falling oil prices and COVID-19, buoyed by their on-going relationships with their affluent client base, as well as their solid track record.
Whilst assets under management have fallen since mid-February 2020, primarily a reflection of lower market valuations, GCC asset managers have benefitted from positive fund inflows since the start of the pandemic. Moody’s added that larger asset managers with sound digital platforms and a diverse asset mix have better positioned themselves in the market.
