Asset management activity revenues of capital market institutions in Saudi Arabia reached SR4.2 billion ($1.12 billion) in 2023, representing a rise of 58.6 percent in four years.
According to Abdullah bin Ghannam, deputy for listed companies and investment products at Saudi Arabia’s Capital Market Authority, the Kingdom has been witnessing unprecedented growth in this industry.
He highlighted that the sector is one of the most important sources of institutional investments, as it contributes to providing diversified products and professional management of client resources, the Saudi Press Agency reported.
Bin Ghannam said the CMA is looking to develop the regulatory requirements for investors, and is working to establish new funds with more flexible structures.
He added: “To measure the performance of the strategic directions, the Authority will monitor the volume of managed assets, the number of participants in public and private investment funds, and the ratio of the volume of funds collected for alternative asset funds to the total public financing, to ensure that all development steps are moving in the right direction, and that we are proceeding to achieve our strategic objectives in a manner that is appropriate.”
The official went on to say: “This will ensure that all development steps are moving in the right direction and that we are moving to achieve our strategic goals in line with the objectives of the Kingdom’s Vision 2030.” —AN
