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Daily Tribune
17-04-2025
- Business
- Daily Tribune
Saudi asset management industry exceeds SAR 1 Trillion: Fitch
TDT | agencies The Saudi Arabian asset management industry grew by over 20% in 2024, exceeding SAR1 trillion (USD266 billion) assets under management (AUM) for the first time, Fitch Ratings says. The industry is likely to attract steady inflows in 2025– 2026, with AUM set to surpass SAR1.3 trillion (USD350 billion), due to the growing investor base, favourable demographics, ongoing reforms, deepening capital markets, and digital transformation moves. However, the market is not immune from global volatil- ities, such as those caused by the US government's tariff rises on 2 April. Oil price changes are amongst the key factors that could affect the industry. 'Saudi Arabia's asset management industry is the largest in the GCC, with AUM having crossed SAR1 trillion, and further growth expected', said Bashar Al Natoor, Global Head of Islamic Finance at Fitch. 'Almost all mutual funds listed on the Saudi Exchange are sharia-compliant, indicating strong demand for Islamic products.' S a u d i bank-affiliated asset managers held nearly two thirds of industry revenue. However, international competition is rising. BlackRock, Goldman Sachs, Morgan Stanley, Citigroup, and Mizuho Bank received regulato- r y approval to set up their regional headquarters in Saudi Arabia in 2024. The government is aiming for the industry AUM to reach 40% of the GDP by 2030 (2024: 26%). About half of the industry's AUM were in private funds, followed by discretionary portfolio management (DPM), and public funds. The private funds' AUM are split mainly between real estate and equities. About half of AUM under DPM are in local shares. Public funds' AUM are split between money market funds, equities, REITs, and debt instruments. The combined capitalisation of GCC listed equity markets crossed USD4 trillion at end-2024, dominated by the Saudi Exchange. Foreign investor ownership in Saudi stocks reached 10.8% in 9M24 (2023: 12.8%). About 63% of the Saudi debt capital market is in sukuk, with almost all Fitch-rated Saudi sukuk being investment-grade.
Zawya
17-04-2025
- Business
- Zawya
Saudi asset management industry tops $266bln, says Fitch
The Saudi Arabian asset management industry grew by over 20% in 2024, exceeding SAR1 trillion ($266 billion) assets under management (AUM) for the first time, said Fitch Ratings. The industry is likely to attract steady inflows in 2025–2026, with AUM set to surpass SAR1.3 trillion ($350 billion), due to the growing investor base, favourable demographics, ongoing reforms, deepening capital markets, and digital transformation moves. However, the market is not immune from global volatilities, such as those caused by the US government's tariff rises on 2 April. Oil price changes are amongst the key factors that could affect the industry. "Saudi Arabia's asset management industry is the largest in the GCC, with AUM having crossed SAR1 trillion, and further growth expected," said Bashar Al Natoor, the Global Head of Islamic Finance at Fitch. "Almost all mutual funds listed on the Saudi Exchange are sharia-compliant, indicating strong demand for Islamic products," he stated. Saudi bank-affiliated asset managers held nearly two thirds of industry revenue. However, international competition is rising. BlackRock, Goldman Sachs, Morgan Stanley, Citigroup, and Mizuho Bank received regulatory approval to set up their regional headquarters in Saudi Arabia in 2024. The government is aiming for the industry AUM to reach 40% of the GDP by 2030 (2024: 26%), stated Fitch in its report. About half of the industry's AUM were in private funds, followed by discretionary portfolio management (DPM), and public funds. The private funds' AUM are split mainly between real estate and equities. About half of AUM under DPM are in local shares. Public funds' AUM are split between money market funds, equities, REITs, and debt instruments, it stated. The combined capitalisation of GCC listed equity markets crossed $4 trillion at end-2024, dominated by the Saudi Exchange. Foreign investor ownership in Saudi stocks reached 10.8% in 9M24 (2023: 12.8%). About 63% of the Saudi debt capital market is in sukuk, with almost all Fitch-rated Saudi sukuk being investment-grade.- TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
16-04-2025
- Business
- Trade Arabia
Saudi asset management industry tops SAR1 trillion, says Fitch
The Saudi Arabian asset management industry grew by over 20% in 2024, exceeding SAR1 trillion ($266 billion) assets under management (AUM) for the first time, said Fitch Ratings. The industry is likely to attract steady inflows in 2025–2026, with AUM set to surpass SAR1.3 trillion ($350 billion), due to the growing investor base, favourable demographics, ongoing reforms, deepening capital markets, and digital transformation moves. However, the market is not immune from global volatilities, such as those caused by the US government's tariff rises on 2 April. Oil price changes are amongst the key factors that could affect the industry. "Saudi Arabia's asset management industry is the largest in the GCC, with AUM having crossed SAR1 trillion, and further growth expected," said Bashar Al Natoor, the Global Head of Islamic Finance at Fitch. "Almost all mutual funds listed on the Saudi Exchange are sharia-compliant, indicating strong demand for Islamic products," he stated. Saudi bank-affiliated asset managers held nearly two thirds of industry revenue. However, international competition is rising. BlackRock, Goldman Sachs, Morgan Stanley, Citigroup, and Mizuho Bank received regulatory approval to set up their regional headquarters in Saudi Arabia in 2024. The government is aiming for the industry AUM to reach 40% of the GDP by 2030 (2024: 26%), stated Fitch in its report. About half of the industry's AUM were in private funds, followed by discretionary portfolio management (DPM), and public funds. The private funds' AUM are split mainly between real estate and equities. About half of AUM under DPM are in local shares. Public funds' AUM are split between money market funds, equities, REITs, and debt instruments, it stated. The combined capitalisation of GCC listed equity markets crossed $4 trillion at end-2024, dominated by the Saudi Exchange.
Zawya
16-04-2025
- Business
- Zawya
Saudi Arabian asset management industry exceeds SAR 1trln
Fitch Ratings-Toronto/Dubai/Jakarta: The Saudi Arabian asset management industry grew by over 20% in 2024, exceeding SAR1 trillion (USD266 billion) assets under management (AUM) for the first time, Fitch Ratings says. The industry is likely to attract steady inflows in 2025–2026, with AUM set to surpass SAR1.3 trillion (USD350 billion), due to the growing investor base, favourable demographics, ongoing reforms, deepening capital markets, and digital transformation moves. However, the market is not immune from global volatilities, such as those caused by the US government's tariff rises on 2 April. Oil price changes are amongst the key factors that could affect the industry. 'Saudi Arabia's asset management industry is the largest in the GCC, with AUM having crossed SAR1 trillion, and further growth expected', said Bashar Al Natoor, Global Head of Islamic Finance at Fitch. 'Almost all mutual funds listed on the Saudi Exchange are sharia-compliant, indicating strong demand for Islamic products.' Saudi bank-affiliated asset managers held nearly two thirds of industry revenue. However, international competition is rising. BlackRock, Goldman Sachs, Morgan Stanley, Citigroup, and Mizuho Bank received regulatory approval to set up their regional headquarters in Saudi Arabia in 2024. The government is aiming for the industry AUM to reach 40% of the GDP by 2030 (2024: 26%). About half of the industry's AUM were in private funds, followed by discretionary portfolio management (DPM), and public funds. The private funds' AUM are split mainly between real estate and equities. About half of AUM under DPM are in local shares. Public funds' AUM are split between money market funds, equities, REITs, and debt instruments. The combined capitalisation of GCC listed equity markets crossed USD4 trillion at end-2024, dominated by the Saudi Exchange. Foreign investor ownership in Saudi stocks reached 10.8% in 9M24 (2023: 12.8%). About 63% of the Saudi debt capital market is in sukuk, with almost all Fitch-rated Saudi sukuk being investment-grade. -Ends- Media relations Matt Pearson Associate Director, Corporate Communications Fitch Group, 30 North Colonnade, London, E14 5GN E:
Zawya
14-02-2025
- Business
- Zawya
Sudair Pharma to set up new insulin plant in Saudi Arabia
Saudi-based Sudair Pharma Company is set to establish its new insulin plant in the Sudair City for Industry and Businesses. Once operational, it is expected to produce over 15 million insulin pens per annum, which will cover the needs of 500,000 patients in its first year. Through this plant, Sudair Pharma aims to localise insulin production, contributing to the continuity of supply and reducing reliance on imports, amid global challenges related to providing the vital medication. The localisation of insulin is the fruit of strategic partnerships of government institutions, supported by the Ministry of Industry and Mineral Resources, in collaboration with major global pharmaceutical companies, reported SPA. Agreements were signed with the French company Sanofi, in partnership with Sudair Pharmaceutical, as well as Novo Nordisk alliance and Lifera, a company owned by the Public Investment Fund (PIF). The foundation stone for the plant was laid today (February 13) by the Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef in the presence of senior officials. This industrial plant is one of the leading projects in the field of manufacturing and localizing diabetes treatments within the Kingdom and is part of the wider strategy to enhance pharmaceutical security and achieve self-sufficiency in the healthcare sector, said the SPA report. The Saudi pharma group said this new insulin plant is part of the kingdom's efforts to localize 85% of its insulin needs, valued at approximately SAR1.3 billion annually. This solidifies the Kingdom's position as a regional hub for the production of advanced pharmaceutical products, it added. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
