Latest news with #assetManagement
Zawya
10-07-2025
- Business
- Zawya
The Capital Market Authority approves a set of regulatory enhancements for investment funds in the Kingdom
The Capital Market Authority ('CMA's") Board has approved a set of enhancements aimed at developing the regulatory environment for investment funds in the Kingdom. This includes amendments to the Investment Funds Regulations, the Real Estate Investment Funds Regulations, and the Glossary of Defined Terms Used in the Regulations and Rules of the Capital Market Authority. The amendments approved by the CMA Board aim to develop the regulatory framework for investment funds to enhance the asset management industry and strengthen its competitiveness by identifying areas for improvement and adopting global best practices. The amendments also include the development of additional regulatory provisions that support the growth of the investment fund and real estate investment fund sectors, enhance transparency and disclosure for fund unit holders, and establish governance standards that ensure greater protection of investors' rights. The key amendments focused on enhancing the efficiency of investment fund management by expanding the categories authorized to distribute fund units to include investment fund distribution platforms and electronic money institutions licensed by the Saudi Central Bank, through their websites or mobile applications. The amendments also developed provisions related to the termination of investment funds and the dismissal of fund managers, in addition to regulating the voluntary withdrawal of managers of public and private investment funds. Among these provisions is the requirement to obtain the CMA's approval and the obligation of the current fund manager to transfer fund management responsibilities to the successor within 60 days of receiving approval. These measures aim to protect the rights of investors in both public and private funds, ensure a smooth transition of fund management responsibilities, safeguard the interests of unit holders, and enhance investor confidence in the capital market. As part of efforts to expand investment opportunities for Real Estate Investment Traded Funds (REITs) listed on the Parallel Market (Nomu) and to support the diversification of their assets and increase their flexibility to enhance potential returns for investors, the approved amendments allow such funds, at the time of their establishment, to invest in real estate development projects without being bound by the investment ratios and asset restrictions specified in the Real Estate Investment Funds Regulations. Among the amendments approved by the CMA Board to allow public funds to subscribe to debt instruments offered privately if issued by issuers within the Kingdom. This aims to support the growth of the asset management industry, as it will enable public fund managers to subscribe to offerings from a broader range of debt instrument issuers, following the removal of previously imposed restrictions under the Investment Funds Regulations. The amendments also require money market fund managers and capital protection funds not to invest more than 10% of the fund's net asset value in debt instruments issued by a single issuer, and that the total investments of the fund in a single entity do not exceed 25% of the fund's net asset value. These measures aim to limit risk and enhance portfolio diversification. The amendments also require managers of public funds that invest in debt instruments to disclose the credit ratings of the fund's top ten debt holdings in the fund's quarterly report, in order to enhance disclosure and transparency for investors in those funds. Regarding the requirements for offering private and foreign investment funds to retail investors, the amendments include a provision aimed at enhancing investor protection. This provision stipulates that cash subscriptions from retail investors in a private fund must not exceed 50% of the total cash subscriptions in the fund at the time of offering its units. In the case of closed-ended private funds, the transfer of fund units must not, under any circumstances, result in retail investors holding more than 50% of the total value of the fund's units through cash contributions. An additional provision was introduced stating that cash subscriptions from retail investors in the Kingdom must not exceed 50% of the total cash subscriptions in the fund when offering securities issued by a foreign fund. In the case of closed-ended foreign funds, the transfer of ownership of the securities issued by the fund must not, under any circumstances, result in retail investors in the Kingdom holding more than 50% of the total value of the fund's securities through cash contributions. The amendments also included allowing capital market institutions licensed to conduct management investment activities to distribute foreign funds and offer their securities in the Kingdom, subject to specific requirements. This will enable clients in the Kingdom to invest in foreign funds. The adoption of these amendments coincides with the Capital Market Authority's approval in the past year (2024) of the launch of 44 new investment funds across various categories, including 15 equity funds, 5 money market funds, 7 endowment (Waqf) funds, and 4 exchange-traded funds (ETFs), in addition to real estate funds and other specialized funds. Investment funds accounted for the largest share of assets under management, reaching approximately SAR 700 billion by the end of 2024, reflecting a growth rate of 25.2% compared to 2023. The CMA Board's decision to adopt these amendments came following a thorough review of the regulatory provisions subject to amendment, carried out through three separate initiatives. Each initiative addressed a specific set of amendments and was published consecutively for public consultation, beginning in June 2024, followed by October 2024, and then a third round in February 2025, before the full adoption of the amendments across all three initiatives. The amended Investment Funds Regulations, the Real Estate Investment Funds Regulations, and the Glossary of Defined Terms Used in the Regulations and Rules of the Capital Market Authority can be accessed through the following links: The Investment Funds Regulations The Real Estate Investment Funds Regulations The Glossary of Defined Terms Used in the Regulations and Rules of the Capital Market Authority Capital Market Authority Communication & Investor Protection Division Media@ About: The Capital Market Authority (CMA) in Saudi Arabia unofficially started in the early fifties, and continued to operate successfully, until the government set its basic regulations in the eighties. The current Capital Market Law is promulgated and pursuant to Royal Decree No. (M/30) dated 2/6/1424H, which formally brought it into existence. The CMA is a government organization applying full financial, legal, and administrative independence, and has direct links with the Prime Minister. For more information about CMA, please visit the official website:
Zawya
10-07-2025
- Business
- Zawya
CMA approves set of regulatory enhancements for investment funds in Saudi Arabia
RIYADH — The Capital Market Authority (CMA) Board has approved a set of enhancements aimed at developing the regulatory environment for investment funds in Saudi Arabia. This includes amendments to the Investment Funds Regulations, the Real Estate Investment Funds Regulations, and the Glossary of Defined Terms Used in the Regulations and Rules of the Capital Market Authority. The amendments approved by the CMA Board aim to develop a regulatory framework for investment funds, enhance the asset management industry, and strengthen its competitiveness by identifying areas for improvement and adopting global best practices. The amendments also include additional regulatory provisions that support the growth of the investment fund and real estate investment fund sectors, enhance transparency and disclosure for fund unit holders, and establish governance standards that ensure greater protection of investors' rights. Key amendments focus on enhancing the efficiency of investment fund management by expanding the categories authorized to distribute fund units to include investment fund distribution platforms and electronic money institutions licensed by the Saudi Central Bank, through their websites or mobile applications. The amendments also address the termination of investment funds and the dismissal of fund managers, in addition to regulating the voluntary withdrawal of managers of public and private investment funds. Among these provisions is the requirement to obtain CMA approval and the obligation of the current fund manager to transfer fund management responsibilities to the successor within 60 days of receiving approval. These measures aim to protect the rights of investors in both public and private funds, ensure a smooth transition of fund management responsibilities, safeguard the interests of unit holders, and enhance investor confidence in the capital market. As part of efforts to expand investment opportunities for Real Estate Investment Traded Funds (REITs) listed on the Parallel Market (Nomu), and to support the diversification of their assets and increase their flexibility to enhance potential returns for investors, the approved amendments allow such funds, at the time of their establishment, to invest in real estate development projects without being bound by the investment ratios and asset restrictions specified in the Real Estate Investment Funds Regulations.
National Post
09-07-2025
- Business
- National Post
MaintainX Raises $150M to Transform Asset Management and Industrial Operations with AI
Article content Latest funding round will accelerate the expansion of AI-powered maintenance and asset management platform as unplanned equipment downtime continues to cost industries billions annually Article content . Article content SAN FRANCISCO — MaintainX, the leading maintenance and asset management platform, announces today $150M in Series D funding. Key investors in this round include Bessemer Venture Partners, Bain Capital Ventures (BCV), D. E. Shaw Ventures, Amity Ventures, August Capital, Founders Circle Capital, Sozo Ventures, and Fifth Down Capital, as well as angel investors Rahul Mehta, co-founder of DST Global, and Dave McJannet, CEO of Hashicorp, among others. The new round of funding will allow MaintainX to expand its AI and machine health monitoring capabilities and partnerships, advance predictive maintenance solutions, and further develop enterprise asset management (EAM) capabilities. This investment brings the total raised to $254M while reaching a new valuation of $2.5B. Article content 'Equipment failures cost companies $1.4 trillion annually, and many still rely on outdated tools. We built MaintainX to change that,' said Chris Turlica, CEO and Co-Founder of MaintainX. 'Equipment failures cost companies $1.4 trillion annually, and many still rely on outdated tools. We built MaintainX to change that,' said Chris Turlica, CEO and Co-Founder of MaintainX. 'In today's unpredictable global environment where supply chain disruptions and external cost pressures are hard to control, our mission is more important than ever. I'm proud to see our customers offset external pressures by reducing unplanned asset downtime, parts, and labor costs while turning their frontline professionals into the knowledge workers they deserve to be with AI.' Article content MaintainX's approach centers on amplifying human capability rather than replacing it. The platform puts AI-driven insights directly in the hands of both the technician on the shop floor and the executive in the boardroom – both of whom are accountable for uptime, safety, and performance. This human-AI collaboration approach transforms maintenance from reactive to proactive operational excellence. Article content This financing comes at a pivotal moment when industrial organizations face unprecedented pressure to maximize operational efficiency amid economic uncertainty, supply chain disruptions, and the ongoing shortage of skilled labor. As manufacturers and facility operators seek to extract optimal value from existing assets, MaintainX's platform delivers the actionable insights needed to meet these converging challenges. Article content 'MaintainX has achieved remarkable product-market fit by addressing a critical challenge that affects virtually every physical asset-driven industry,' said Byron Deeter, Partner at Bessemer. 'What impressed us most was the overwhelmingly positive feedback from customers who have transformed their maintenance operations using the platform. Their AI-powered insights are what truly differentiates MaintainX in the market – this intelligent layer transforms raw operational data into predictive recommendations that drive unprecedented value creation. This investment reflects our confidence in Chris and MaintainX's ability to lead the global digital transformation of maintenance and asset management.' Article content 'Companies are increasingly turning to operational technology not just to improve performance, but to protect margins and preserve jobs,' said Merritt Hummer, Partner at BCV. 'MaintainX is driving this shift, transforming maintenance from a manual, reactive process into a data-rich, AI-powered advantage. Their platform doesn't just streamline workflows; it introduces a new operating model where AI surfaces insights, predicts failures, and unlocks entirely new revenue streams and efficiencies. This is a step-change in how businesses manage assets and plan for the future.' Article content The company will use the investment to: Article content Advance its AI-powered asset and work intelligence capabilities. Expand its machine health monitoring capabilities and ecosystem of partners to capture real-time operational data through a sensor-agnostic approach that works with any industrial sensor or control system. Accelerate market expansion across key industries and geographic regions. Attract top talent to support its product roadmap while helping customers address the industrywide skilled labor shortage through more intuitive, AI-assisted workflows. Article content 'With MaintainX AI, it is even easier to digitize our preventive maintenance workflows, and our technicians can now use CoPilot to get accurate, real-time answers the moment they need them instead of having to dig through lengthy manuals and data – it's like having an expert on hand 24/7 to guide our team through any task. MaintainX has quickly become a trusted resource for our maintenance operations and has a big impact on the training and onboarding of our technicians,' said Jeremiah Dotson, Facility Maintenance Manager, Amfab Steel, Inc. Article content Since its founding in 2018, MaintainX has achieved significant milestones and impact in the industry, including: Article content Serving over 11K companies worldwide, managing 11M+ assets across manufacturing, facilities management, food and beverage, distribution centers, and more. Helping customers achieve key success metrics, including reducing unplanned downtime by 34%, increasing production capacity by 15%, and achieving up to 32% savings in monthly maintenance costs. Processing over 27M work orders and 370K+ safety procedures annually. Recognized for innovation, including ranking in the top 50 of the Deloitte Technology Fast 500, as the #1 Enterprise Asset Management and CMMS provider in G2's Summer 2025 Report, and as a Leader in the Verdantix 2025 Green Quadrant CMMS Report. Article content About MaintainX Article content Headquartered in San Francisco, MaintainX is a technology company pioneering a next-generation approach to AI-powered maintenance and asset management. It empowers frontline teams to reduce unplanned equipment downtime and boost production capacity. MaintainX leverages AI and IoT to connect asset and work intelligence data, providing real-time insights that drive proactive maintenance and operational excellence for customers across physical asset-driven industries. MaintainX operates in North America with additional support worldwide. MaintainX is reimagining how maintenance and operations can be designed and managed to address the realities of today and the future ahead. For more information, visit Article content MaintainX is actively hiring for numerous roles and seeks talented individuals ready to join our team. Those interested in building the future of maintenance and asset management can search open roles and apply here. Article content MaintainX® Article content is a registered trademark of MaintainX Inc. Article content About Bessemer Venture Partners Article content Bessemer Venture Partners helps entrepreneurs lay strong foundations to build and forge long-standing companies. With more than 145 IPOs and 300 portfolio companies in the enterprise, consumer and healthcare spaces, Bessemer supports founders and CEOs from their early days through every stage of growth. Bessemer's global portfolio has included Pinterest, Shopify, Twilio, Yelp, LinkedIn, PagerDuty, DocuSign, Wix, Fiverr Toast and ServiceTitan and currently has more than $19 billion of assets under management. Bessemer has investment teams located in Tel Aviv, Silicon Valley, San Francisco, New York, London, Hong Kong, Boston, and Bangalore. Born from innovations in steel more than a century ago, Bessemer's storied history has afforded its partners the opportunity to celebrate and scrutinize its best investment decisions (see Memos) and also learn from its mistakes (see Anti-Portfolio). Article content About Bain Capital Ventures Article content Bain Capital Ventures (BCV) is a multi-stage VC firm with over $10B under management. Investing across seven core domains—AI applications, AI infrastructure, commerce, fintech, healthcare, industrials and security, BCV offers distinctive access to Bain Capital's broader industry expertise and portfolio of companies. For over 20 years, BCV has invested from seed through IPO and acquisition, backing more than 400 companies including Attentive, Bloomreach, Clari, Docusign, Flywire, LinkedIn, Moveworks, Redis, Rubrik and ShipBob. Article content Article content Article content
Reuters
07-07-2025
- Business
- Reuters
India markets regulator proposes allowing AMCs to advise pooled funds
July 7 (Reuters) - India's markets regulator on Monday said it was proposing a rule change that would allow asset management companies to offer investment management and advisory services to pooled, non-broad-based funds. Portfolio management and advisory services offered by an AMC can be carried out through a separate unit of the AMC, as long as it has its own dedicated team of key personnel, the Securities and Exchange Board of India said.
Yahoo
05-07-2025
- Business
- Yahoo
BNP Paribas Cardif closes acquisition of AXA IM
BNP Paribas Cardif has completed the acquisition of AXA Investment Managers (AXA IM), enabling the creation of a major European asset management platform that oversees over €1.5tn ($1.76tn) in client assets. This move includes a long-term partnership with the AXA Group, allowing BNP Paribas Cardif to manage a significant portion of AXA's assets. In December 2024, BNP Paribas Cardif signed a share purchase agreement to acquire AXA IM in a deal valued at around €5.1bn ($6.40bn). The acquisition is said to establish BNP Paribas Group as the leading manager of long-term savings for insurers and pension funds in Europe, with approximately €850bn ($1tn) under management. Additionally, the group aims to excel in private asset fund collection and become one of Europe's top providers of exchange-traded funds (ETFs). By integrating the expertise of AXA IM, BNP Paribas Asset Management, and BNP Paribas REIM, the new platform will offer a diverse range of traditional and alternative assets, enhanced global distribution and improved innovation capabilities It will leverage AXA IM Alts' leadership in private assets, a critical growth area for both institutional and individual clients. This acquisition marks an advancement for the BNP Paribas Group's Investment and Protection Services (IPS) division. The platform will utilise the group's integrated model, collaborating closely with its commercial, personal banking and services (CPBS) and corporate and institutional banking (CIB) divisions through the 'originate to distribute' strategy. BNP Paribas director and CEO Jean-Laurent Bonnafe said: 'This acquisition is an important moment for the entire BNP Paribas Group. We are delighted to welcome the AXA IM teams, who will find within the BNP Paribas Group a strong culture of customer service as well as ambitious growth and innovation prospects. 'These are teams with recognised and complementary expertise that will build together a European industrial project to better serve our clients.' Joint working groups with AXA IM are already in place to develop a shared roadmap focusing on offerings and services, which will be presented to employee representative bodies. A proposed merger of the legal entities of AXA IM, BNP Paribas AM, and BNP Paribas REIM into the new platform under BNP Paribas Cardif is currently under consultation with employee representatives. Sandro Pierri, CEO of BNP Paribas AM, will lead the group's asset management activities, while Marco Morelli, executive chairman of AXA IM, will chair these activities for the BNP Paribas Group. "BNP Paribas Cardif closes acquisition of AXA IM" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
