Forbes Middle East released its second annual ranking of the Middle East’s top 30 asset management companies, placing Saudi Arabia’s SNB Capital at the top of the list which is dominated by Saudi entities.
More than half of the 30 asset management companies on the list (16 total) are Saudi. The list also indicated Saudi Tadawul’s position as the most developed exchange in the Middle East, making up nearly 70% of the region’s market capitalization.
The UAE was next in the list with five entries. Together, these two GCC nations comprise 70% of the ranking.
Saudi-based SNB Capital is the region’s biggest asset manager, with $72.6 billion in AUM. In June 2022, it partnered with stc to manage its recently launched employee savings plan. Bahrain’s Investcorp came second with $40.4 billion AUM followed by Saudi’s Riyad Capital with $24.3 billion in AUM.
Positions 3, 4, and 5 were also Saudi entities — Riyad Capital (Saudi) – $24.3 billion, Alinma Investment (Saudi) – $20.4 billion, and Al Rajhi Capital (Saudi)- $16.1 billion AUM.
[Click here to read the full report from Forbes Middle East]
