NNA - Forbes Middle East has revealed its second annual ranking of the region's top 30 asset management companies, highlighting the leading independent financial advisors maximizing investments in the Middle East. Companies were ranked based on their total assets under management (AUM) as of December 2021. This year's cohort had a total of $316 billion in AUM in 2021, up 19.2%, up from$265 billion in 2020. Of the 30, 15 are subsidiaries of commercial banks. 

Saudi Arabia represents the lion's share of the 30 asset management companies with 16 entries, indicating Saudi Stock Exchange Tadawul's position as the most developed exchange in the Middle East, making up nearly 70% of the region's market capitalization. The U.A.E. follows next 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 and Saudi's Riyad Capital complete the top three with $40.4 billion and $24.3 billion in AUM, respectively. Kuwait's Wafra International Investment Company is the only newcomer in this year's top 10, thanks to its involvement as a joint global coordinator for Boubyan Bank's $500 million senior unsecured Wakala/Murabaha sukuk insurance in March 2022. 

The Middle East's Top 10 Asset Management Companies 2022

1 | SNB Capital    

Country: Saudi Arabia

AUM: $72.6 billion 

2 | Investcorp

Country: Bahrain 

AUM: $40.4 billion

3 | Riyad Capital 

Country: Saudi Arabia

AUM: $24.3 billion

4 | Alinma Investment 

Country: Saudi Arabia

AUM: $20.4 billion 

5 | Al Rajhi Capital 

Country: Saudi Arabia 

AUM: $16.1 billion 

6 | Kamco Invest

Country: Kuwait

AUM: $14.6 billion 

7 | Jadwa Investment 

Country: Saudi Arabia 

AUM: $13.6 billion 

8 | Wafa Gestion 

Country: Morocco

AUM: $13.4 billion 

9 | SHUAA Capital 

Country: U.A.E. 

AUM: $13.1 billion 

10 | Wafra International Investment Company  

Country: Kuwait

AUM: $10 billion

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