Logo of Capital Market Authority (CMA)
The total assets under management (AUM) held by capital market institutions licensed by Saudi Arabia’s Capital Market Authority (CMA) rose 10%, or SAR 81.1 billion, quarter-on-quarter (QoQ) to about SAR 871.3 billion in Q4 2023, according to the authority’s data. 
AUM since 2018 (SAR bln)
Period
Value
Change
Quarterly Change (%)
Q1 2018
395.82
+4.74
+1%
Q2 2018
422.21
+26.39
+7%
Q3 2018
431.57
+9.36
+2%
Q4 2018
454.30
+22.73
+5%
Q1 2019
466.06
+11.76
+3%
Q2 2019
484.22
+18.16
+4%
Q3 2019
482.41
(1.81)
(0.4%)
Q4 2019
500.02
+17.61
+4%
Q1 2020
481.35
(18.67)
(4%)
Q2 2020
515.97
+34.62
+7%
Q3 2020
566.71
+50.74
+10%
Q4 2020
611.72
+45.01
+8%
Q1 2021
677.33
+65.61
+11%
Q2 2021
703.27
+25.94
+4%
Q3 2021
740.45
+37.18
+5%
Q4 2021
758.57
+18.12
+2%
Q1 2022
816.70
+58.13
+8%
Q2 2022
756.98
(59.72)
(7%)
Q3 2022
760.81
+3.83
+1%
Q4 2022
743.40
(17.41)
(2%)
Q1 2023
770.63
+27.23
+4%
Q2 2023
823.63
+53.00
+7%
Q3 2023
790.16
(33.47)
(4%)
Q4 2023
871.26
+81.09
+10%
NBK Wealth Management led with a 1,004% QoQ increase in AUM in Q4 2023. Rassanah Capital followed with a 191% QoQ rise.
Companies with Most Increase in AUM (SAR mln)
Company
Q3 2023
Q4 2023
Change
Change (%)
NBK Wealth
280.8
3100.6
+2819.8
+1004%
Rassanah Capital
409.4
1190.3
+780.9
+191%
Al Nefaie Investment
212.8
582.8
+370.0
+174%
Merak Capital
253.0
628.3
+375.3
+148%
Arch Capital
294.5
609.5
+315.0
+107%
On the other hand, Emirates NBD Capital reported the steepest QoQ drop in AUM of 76%. Marifa Capital came in second with a 66% QoQ decline.
Companies with Most Decline in AUM (SAR mln)
Company
Q3 2023
Q4 2023
Change
Change (%)
Emirates NBD Capital KSA
4010.3
945.7
(3064.6)
(76%)
Marifa Capital
395.4
132.8
(262.6)
(66%)
KASB Capital
274.1
109.1
(165.0)
(60%)
Saudi Fransi Capital
22134.0
19136.4
(2997.6)
(14%)
Al Khair Capital
18434.3
15949.6
(2484.7)
(13%)
SNB Capital topped the list of capital market institutions in terms of AUM value, with about SAR 269.6 billion during the fourth quarter of 2023, representing 31% of the total.
Riyad Capital followed, with nearly SAR 93.5 billion.
The following table details the AUM value bycapitalmarket institutions:
AUM Valueby Capital Market Institutions(SAR bln)
Company
Value
Percentage to total (%)
SNB Capital
269.62
30.9%
Riyad Capital
93.54
10.7%
Al Rajhi Capital
75.66
8.7%
Alinma Investment
74.03
8.5%
Jadwa Investment
62.47
7.2%
Alistithmar Capital
31.09
3.6%
SAB Invest
27.06
3.1%
Saudi Fransi Capital
19.14
2.2%
AlJazira Capital
17.30
2.0%
ANB Invest
16.24
1.9%
Albilad Investment
16.13
1.9%
Al Khair Capital
15.95
1.8%
Morgan Stanley Saudi Arabia
15.17
1.7%
BLOMINVEST
13.33
1.5%
Alpha Capital
10.28
1.2%
Derayah Capital
9.63
1.1%
Al Khabeer Capital
8.81
1.0%
Ashmore Investment Saudi Arabia
8.13
0.9%
SICO Capital
6.36
0.7%
State Street Saudi Arabia
5.82
0.7%
GIB Capital
5.76
0.7%
Tharawat
5.44
0.6%
SEDCO Capital
4.75
0.5%
Itqan Capital
4.40
0.5%
MEFIC Capital
4.11
0.5%
Miyar Capital
3.44
0.4%
Malaz Capital
3.13
0.4%
NBK Wealth
3.10
0.4%
Adeem Capital
3.05
0.3%
Mulkia Investment
2.99
0.3%
Remaining firms
35.34
4.1%
Total
871.26
100.0%
Logo of Capital Market Authority (CMA)
The total assets under management (AUM) held by capital market institutions licensed by Saudi Arabia’s Capital Market Authority (CMA) rose 10%, or SAR 81.1 billion, quarter-on-quarter (QoQ) to about SAR 871.3 billion in Q4 2023, according to the authority’s data.
AUM since 2018 (SAR bln)
Period
Value
Change
Quarterly Change (%)
Q1 2018
395.82
+4.74
+1%
Q2 2018
422.21
+26.39
+7%
Q3 2018
431.57
+9.36
+2%
Q4 2018
454.30
+22.73
+5%
Q1 2019
466.06
+11.76
+3%
Q2 2019
484.22
+18.16
+4%
Q3 2019
482.41
(1.81)
(0.4%)
Q4 2019
500.02
+17.61
+4%
Q1 2020
481.35
(18.67)
(4%)
Q2 2020
515.97
+34.62
+7%
Q3 2020
566.71
+50.74
+10%
Q4 2020
611.72
+45.01
+8%
Q1 2021
677.33
+65.61
+11%
Q2 2021
703.27
+25.94
+4%
Q3 2021
740.45
+37.18
+5%
Q4 2021
758.57
+18.12
+2%
Q1 2022
816.70
+58.13
+8%
Q2 2022
756.98
(59.72)
(7%)
Q3 2022
760.81
+3.83
+1%
Q4 2022
743.40
(17.41)
(2%)
Q1 2023
770.63
+27.23
+4%
Q2 2023
823.63
+53.00
+7%
Q3 2023
790.16
(33.47)
(4%)
Q4 2023
871.26
+81.09
+10%
NBK Wealth Management led with a 1,004% QoQ increase in AUM in Q4 2023. Rassanah Capital followed with a 191% QoQ rise.
Companies with Most Increase in AUM (SAR mln)
Company
Q3 2023
Q4 2023
Change
Change (%)
NBK Wealth
280.8
3100.6
+2819.8
+1004%
Rassanah Capital
409.4
1190.3
+780.9
+191%
Al Nefaie Investment
212.8
582.8
+370.0
+174%
Merak Capital
253.0
628.3
+375.3
+148%
Arch Capital
294.5
609.5
+315.0
+107%
On the other hand, Emirates NBD Capital reported the steepest QoQ drop in AUM of 76%. Marifa Capital came in second with a 66% QoQ decline.
Companies with Most Decline in AUM (SAR mln)
Company
Q3 2023
Q4 2023
Change
Change (%)
Emirates NBD Capital KSA
4010.3
945.7
(3064.6)
(76%)
Marifa Capital
395.4
132.8
(262.6)
(66%)
KASB Capital
274.1
109.1
(165.0)
(60%)
Saudi Fransi Capital
22134.0
19136.4
(2997.6)
(14%)
Al Khair Capital
18434.3
15949.6
(2484.7)
(13%)
SNB Capital topped the list of capital market institutions in terms of AUM value, with about SAR 269.6 billion during the fourth quarter of 2023, representing 31% of the total.
Riyad Capital followed, with nearly SAR 93.5 billion.
The following table details the AUM value bycapitalmarket institutions:
AUM Valueby Capital Market Institutions(SAR bln)
Company
Value
Percentage to total (%)
SNB Capital
269.62
30.9%
Riyad Capital
93.54
10.7%
Al Rajhi Capital
75.66
8.7%
Alinma Investment
74.03
8.5%
Jadwa Investment
62.47
7.2%
Alistithmar Capital
31.09
3.6%
SAB Invest
27.06
3.1%
Saudi Fransi Capital
19.14
2.2%
AlJazira Capital
17.30
2.0%
ANB Invest
16.24
1.9%
Albilad Investment
16.13
1.9%
Al Khair Capital
15.95
1.8%
Morgan Stanley Saudi Arabia
15.17
1.7%
BLOMINVEST
13.33
1.5%
Alpha Capital
10.28
1.2%
Derayah Capital
9.63
1.1%
Al Khabeer Capital
8.81
1.0%
Ashmore Investment Saudi Arabia
8.13
0.9%
SICO Capital
6.36
0.7%
State Street Saudi Arabia
5.82
0.7%
GIB Capital
5.76
0.7%
Tharawat
5.44
0.6%
SEDCO Capital
4.75
0.5%
Itqan Capital
4.40
0.5%
MEFIC Capital
4.11
0.5%
Miyar Capital
3.44
0.4%
Malaz Capital
3.13
0.4%
NBK Wealth
3.10
0.4%
Adeem Capital
3.05
0.3%
Mulkia Investment
2.99
0.3%
Remaining firms
35.34
4.1%
Total
871.26
100.0%
