- Saudi asset managers represent over 50% of the list with 16 entries.
- The UAE comes second with five entries, followed by Bahrain and Egypt with three.
- Saudi’s NCB Capital tops the ranking with $50.4 billion in assets under management.
Dubai: Forbes Middle East has revealed its first ever list of the region’s 30 biggest asset managers, recognizing the money experts leading investment in the Middle East. The inaugural ranking was constructed based on the value of the companies’ total assets under management as of December 2020. Combined, the 30 listed companies control $258.2 billion in assets under management (AUM).
NCB Capital—the Saudi investment banking arm of the National Commercial Bank is the Middle East’s biggest asset manager with $50.4 billion in AUM. NCB Capital and Samba Capital & Investment Management Company will complete their merger in the third quarter of 2021, forming the biggest asset manager, brokerage, and investment bank in Saudi Arabia. Bahrain’s Investcorp follows with $35 billion in AUM. And Saudi’s Alinma Investment and Riyad Capital each record $18 billion in AUM.
The 30 companies represent six countries. Saudi dominates the list with 16 entries, followed by the UAE with five entries. Combined, these two countries make up 70% of the ranking.
The Middle East’s 10 Biggest Asset Managers 2021
1 NCB Capital
Country: Saudi Arabia
AUM: $50.4 billion
2 Investcorp
Country: Bahrain
AUM: $35 billion
3 Alinma Investment
Country: Saudi Arabia
AUM: $18 billion
4 Riyad Capital
Country: Saudi Arabia
AUM: $18 billion
5 Wafa Gestion
Country: Morocco
AUM: $14.4 billion
6 SHUAA Capital
Country: U.A.E.
AUM: $14 billion
7 Al Rajhi Capital
Country: Saudi Arabia
AUM: $13.3 billion
8 Kamco Investment
Country: Kuwait
AUM: $13 billion
9 GFH Financial Group
Country: Bahrain
AUM: $12 billion
10 Jadwa Investment
Country: Saudi Arabia
AUM: $8.6 billion
Click here for the complete ranking of The Middle East’s Top 30 Biggest Asset Managers 2021.
About Forbes Middle East
Forbes Middle East is a licensed edition of Forbes for the Arab world, championing inspiring business journalism and entrepreneurial capitalism. Its online and social platforms break news covering billionaires, business, investment, technology, economy, entrepreneurship, leadership, and luxury lifestyles. The monthly magazine, featuring in-depth interviews with the Middle East’s most influential and innovative leaders, is published in print in English and Arabic with digital versions available to both regional and global audiences online.
Forbes Middle East extends the Forbes brand of journalism across the Arab world, conducting its own comprehensive research to publish original lists that adhere to strict methodologies. Its content attracts business leaders, investors, active and potential entrepreneurs, and a wide audience of ambitious and influential executives.
Media Contact
Juweyria Hersi
Hersi@forbesmiddleeast.com
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