Saudi AUM down 4% to SAR 790.2B in Q3 2023

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) fell 4%, or SAR 33.5 billion, quarter-on-quarter (QoQ) to SAR 790.2 billion in Q3 2023, according to the authority’s data.

Assets Under Management (SAR bln) Since 2018
Period	Value	Change (SAR bln)	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%)

Arch Capital led the way with a 229% QoQ increase in AUM in Q3 2023. SICO Capital followed with a 75% QoQ rise.

Companies with Most Increase in AUM (SAR mln)
Company	Q2 2023	Q3 2023	Change	Change (%)
Arch Capital	89.5	294.5	+205.0	+229%
SICO Capital	3477.2	6086.3	+2609.1	+75%
Arcapita	612.1	937.5	+325.4	+53%
NOMW Capital	2051.5	2934.9	+883.4	+43%
Rassanah Capital	291.1	409.4	+118.3	+41%

On the other hand, 99 Halalah Financial reported the steepest decline in AUM, with a 100% QoQ fall. Dom Capital came in second with a 48% QoQ decline.

Companies with Most Decline in AUM (SAR mln)
Company	Q2 2023	Q3 2023	Change	Change (%)
99 Halalah Financial	142.0	--	(142.0)	(100%)
Dom Capital	108.8	56.8	(52.0)	(48%)
Ashmore Investment Saudi Arabia	11891.8	7568.8	(4323.0)	(36%)
Mulkia Investment	4164.8	2924.8	(1240.0)	(30%)
Emirates NBD Capital	5557.2	4010.3	(1546.9)	(28%)

SNB Capital topped the list of capital market institutions in terms of AUM, with about SAR 237.5 billion during the third quarter of 2023, representing 30% of the total AUM value. It was followed by Riyad Capital, with nearly SAR 84.7 billion.

The following table details the volume of AUM at capital market institutions:

Managed Assets by Capital Market Institutions (SAR bln)
Company	Value	Percentage to total (%)
SNB Capital	237.46	30.1%
Riyad Capital	84.67	10.7%
Alinma Investment	69.82	8.8%
Al Rajhi Capital	64.96	8.2%
Jadwa Investment Co.	53.43	6.8%
Alistithmar Capital	30.77	3.9%
SAB Invest	23.09	2.9%
Saudi Fransi Capital	22.13	2.8%
AlKhair Capital Saudi Arabia	18.43	2.3%
Albilad Investment	16.29	2.1%
ANB Invest	16.26	2.1%
AlJazira Capital	13.85	1.8%
Blom Invest	13.27	1.7%
Morgan Stanley Saudi Arabia	11.97	1.5%
Al Khabeer Capital	8.74	1.1%
Alpha Capital	8.61	1.1%
Derayah Capital	7.73	1.0%
Ashmore Investment Saudi Arabia	7.57	1.0%
GIB Capital	6.52	0.8%
SICO Capital	6.09	0.8%
State Street Saudi Arabia	5.24	0.7%
Tharawat	5.09	0.6%
SEDCO Capital	4.79	0.6%
Emirates NBD Capital KSA	4.01	0.5%
Itqan Capital	4.01	0.5%
Miyar Capital	3.58	0.5%
MEFIC Capital	3.25	0.4%
Malaz Capital	3.01	0.4%
Nomw Capital	2.93	0.4%
Mulkia Investment	2.92	0.4%
Remaining firms	29.66	3.8%
Total	790.16	100.0%

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