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Saturday, December 10, 2022

Moroccans Abroad, Top Contributors to Foreign Investment in Mutual Funds – Report

Moroccans living abroad are the top contributors to foreign investment in Undertakings for the Collective Investment in Transferable Securities (UCITS) at the end of 2021, with 1.02 billion dirhams, i.e. 39.6% of the total amount invested, according to the Moroccan Capital Market Authority (AMMC).

The Moroccan community abroad is followed by resident foreign natural persons and the non-resident foreign natural persons with 32.4% and 17.7% respectively, AMMC says in its 2021 Report on Foreign Investment in Financial Instruments.

As for the total value of foreign investments in mutual funds, it reached 2.6 billion dirhams at the end of 2021, against 2.9 billion dirhams a year earlier (-12%), according to the same source.

The share held by foreigners in the overall net assets of UCITS remains low and goes from 0.56% in 2020 to 0.44% in 2021.

The share of investment by natural persons in this investment vehicle has increased significantly, reaching MAD 2.32 billion, or 90% of foreign investment in mutual funds securities against 66% a year earlier.

The distribution of the foreign investment in mutual funds securities in 2021 highlights a preference for the “short term bonds” mutual funds with a share of 34%, followed by the “medium long term bonds” mutual funds and the “monetary” mutual funds with respective shares of 20% and 17%.

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