Saudi AUM Hits SAR 1.29 Trillion; Top Five Hold 61%

Assets under management at Saudi capital market institutions reached SAR 1.29 trillion by the end of March 2026, according to the Capital Market Authority's latest quarterly report.

SNB Capital led the field with SAR 283.2 billion, a 22% share of total AUM. Al Rajhi Capital ranked second at SAR 171.9 billion, or 13%. Alinma Capital came third at SAR 127 billion, a 10% slice. Jadwa Investment held 8%, Riyad Capital 7.6%. The top five firms together controlled 60.7% of industry assets.

The rest is split across a large tail of smaller players – Albilad Capital, Alistithmar Capital, SAB Invest, and other local and global managers.

The growth has been rapid. AUM stood at roughly SAR 770 billion in Q1 2023. Three years later the number is up more than SAR 520 billion, a gain of about 67%. The increase combines asset appreciation with fresh inflows, part of a broader international push into Saudi markets since foreign investors gained easier access.

Private funds made up the biggest single category, holding SAR 700.7 billion. Managed portfolios followed at SAR 357.8 billion, while public funds totaled SAR 231.7 billion. The skew toward private structures reflects a global trend: institutions shifting allocations from liquid public vehicles into direct deals and higher-yielding private assets.

The concentration among the top five firms leaves smaller managers competing for the remaining 39.3% of assets. The dominance of private funds also has a knock-on effect on public markets, as more capital bypasses listed stocks and bonds.

For foreign allocators, the CMA's data set offers a benchmark for the kingdom's asset management growth. The pace of inflows into private funds will be the metric to watch in the next quarterly report, which will show whether the expansion continues at the same rate or begins to level off.