RIYADH: According to a recent research by Fitch Ratings, the asset management sector in Saudi Arabia expanded by 20% annually in 2024, bringing the sector’s total assets to SR1 trillion ($266 billion) for the first time. According to its most recent study, the ratings agency projects that the assets under management will surpass SR1.3 trillion, and that the industry would continue to draw consistent inflows through 2025 and 2026.
Numerous important variables, including as a growing investor base, favourable demographics, ongoing economic reforms, robust capital markets, and digital transformation efforts, were cited by Fitch as the main drivers of the sector’s momentum. “Saudi Arabia’s asset management industry is the largest in the GCC (Gulf Cooperation Council), with AUM having crossed SAR1 trillion and further growth expected,” stated Bashar Al-Natoor, global head of Islamic Finance at Fitch.
“There is a high demand for Islamic products, as evidenced by the fact that nearly all mutual funds listed on the Saudi Exchange comply with Shariah,” he continued. In October, Fitch said that an increase in the number of high-net-worth people seeking asset management services in the Kingdom would further assist development in 2025.
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