Table 11.

Style analysis - stage 5 (September 2 - December 31).

	Malaysia		Pakistan		Saudi Arabia		Qatar		Kuwait		UAE
	Islamic	Conv.	Islamic	Conv.	Islamic	Conv.	Islamic	Conv.	Islamic	Conv.	Islamic	Conv.
Size
Large	63.70%	23.98%	48.74%	25.23%	57.42%	21.04%	55.20%	20.33%	69.24%	28.26%	67.65%	22.59%
Mid	17.32%	29.69%	24.38%	41.38%	25.24%	33.80%	21.22%	29.97%	11.74%	33.87%	14.56%	39.26%
Small	18.98%	46.33%	26.88%	33.39%	17.34%	45.16%	23.57%	49.70%	19.01%	37.86%	17.79%	38.15%
R2	0.9211	0.868	0.8736	0.9441	0.9371	0.9142	0.9257	0.8895	0.9649	0.8905	0.9306	0.8823
Tracking Error	0.69%	0.45%	0.77%	0.97%	0.39%	0.83%	0.51%	0.66%	0.55%	0.48%	0.93%	0.64%
Factor Strategies
Growth	21.64%	58.65%	15.27%	61.89%	13.12%	51.02%	24.52%	25.33%	11.27%	48.68%	17.57%	54.21%
Value	69.69%	25.66%	73.85%	27.01%	64.92%	17.07%	48.59%	34.35%	86.22%	22.14%	53.63%	16.01%
Momentum	8.68%	15.69%	10.89%	11.10%	21.96%	31.90%	26.89%	40.32%	2.51%	29.18%	28.80%	29.78%
R2	0.8129	0.8912	0.7925	0.876	0.8028	0.8828	0.8018	0.7952	0.8185	0.8222	0.8418	0.8344
Tracking Error	0.49%	0.10%	0.78%	0.75%	0.14%	0.43%	0.24%	0.13%	0.28%	0.68%	0.71%	0.83%
Sector
Manufacturing	23.92%	32.90%	16.53%	36.76%	16.56%	26.34%	9.63%	20.12%	11.43%	23.34%	18.31%	23.19%
Utilities	14.41%	11.03%	11.67%	11.38%	21.07%	19.08%	21.83%	19.69%	22.65%	21.07%	19.22%	14.00%
Mining, Construction and Chemicals	9.70%	18.07%	13.77%	9.90%	17.43%	14.70%	13.25%	7.71%	13.87%	7.03%	8.11%	5.78%
Wholesale and Retail	32.36%	14.97%	35.63%	17.14%	18.44%	23.54%	34.72%	32.04%	32.18%	32.51%	41.61%	40.15%
Services	19.61%	23.03%	22.41%	24.81%	26.51%	16.33%	20.58%	20.44%	19.87%	16.05%	12.75%	16.89%
R2	0.906	0.8682	0.872	0.9351	0.8779	0.8675	0.8468	0.8652	0.8884	0.8662	0.922	0.9131
Tracking Error	0.44%	0.48%	0.35%	0.83%	0.77%	0.82%	0.63%	0.77%	0.48%	0.78%	0.49%	0.95%