Mubasher: The asset managers in member countries of the Gulf Cooperation Council (GCC) have resilience in facing the economic impacts of the new coronavirus disease (COVID-19), according to a recent report by Moody's Investors Service.

The credit rating agency referred that the GCC asset managers' resilience to COVID-19 resulted from their strong performance and affluent client base.

Although COVID-19 and low oil prices have put pressure on their assets under management (AUM), fund inflows have remained positive for larger managers with a diverse mix of assets and strong digital platforms.

Vice President at Moody's, Vanessa Robert, said: "The GCC sector's resilient inflows partly reflect its exceptionally strong performance last year, but we expect risk appetite to remain subdued and some diversification away from the region."