Saudi Arabia's capital market institutions reported SAR 1.36 trillion (US$364 billion) in assets under management (AUM) at the end of June 2026, reflecting continued growth in the Kingdom's investment management industry.
According to Capital Market Authority (CMA) data reported by Argaam, total AUM increased by SAR 74.5 billion, or 6%, during the second quarter, from SAR 1.29 trillion at the end of March.
On an annual basis, managed assets increased approximately 20% from SAR 1.13 trillion in Q2 2025, extending a period of steady expansion across Saudi Arabia's investment market.
The growth reflects an expanding pool of professionally managed capital, although changes in AUM can include investment performance, contributions and withdrawals rather than new investment inflows alone.
Five Asset Managers Control Nearly 60% of the Market
SNB Capital retained its position as Saudi Arabia's largest asset manager, overseeing SAR 303.6 billion, equivalent to 22.2% of total industry assets.
Al Rajhi Capital followed with SAR 181.5 billion, while Alinma Capital managed SAR 128.6 billion. Jadwa Investment and Riyad Capital completed the top five.
Saudi Arabia's Largest Asset Managers Q2 2026
Together, these institutions manage nearly SAR 817 billion, highlighting the concentration of Saudi Arabia's asset management industry among established financial groups.
The remaining assets are distributed across domestic and international managers, including Albilad Capital, SAB Invest and Morgan Stanley Saudi Arabia.
Private Funds Drive Saudi Arabia's AUM Expansion
Private investment funds accounted for the largest share of the market, with assets reaching SAR 755.7 billion, or approximately 55% of total AUM.
Discretionary managed portfolios followed at SAR 363.7 billion, while public investment funds accounted for SAR 245.5 billion.
Private fund assets increased by SAR 55 billion during the quarter, accounting for approximately 74% of the industry's total AUM increase.
Since Q1 2023, private fund assets have more than doubled from SAR 367.1 billion, while public fund assets have also more than doubled from SAR 116 billion.
This demonstrates that the industry's expansion extends across private and publicly offered investment vehicles, although private funds remain its largest component.
ETFs Remain a Small Part of Saudi Arabia's Investment Industry
Despite the rapid expansion of Saudi Arabia's asset management industry, exchange-traded funds (ETFs) remain a relatively small segment of the broader market.
Public investment funds, which include ETFs alongside conventional mutual funds and other publicly offered products, accounted for just SAR 245.5 billion, or 18% of total AUM, at the end of June 2026. Private funds and discretionary portfolios represented the remaining 82%.
The difference becomes clearer when examining the wider regional ETF market. According to Nukoud's GCC ETF Market Monitor: H1 2026 Review, the tracked GCC-listed and GCC-accessible ETF universe comprised 42 products with approximately US$8.85 billion (SAR 33.2 billion) in reported assets at the end of June.
The regional ETF market also remains highly concentrated. Nukoud's report found that the five largest ETFs accounted for nearly 87% of reported assets, while the top ten represented more than 93%.
Although new products covering Saudi equities, sukuk, gold and international markets continue to broaden investor choice, ETFs have yet to achieve the scale of traditional investment-management structures.
What Does This Mean for Saudi ETFs?
The growth in managed assets provides an important backdrop for Saudi Arabia's developing exchange-traded fund market.
While private funds dominate overall AUM, public investment products, including ETFs, offer a different route for investors seeking transparent, exchange-traded exposure to equities, commodities and international markets.
Saudi Arabia's ETF market has expanded through products covering domestic equities, gold and Asian markets. Investors can explore these offerings through Nukoud's Saudi-listed ETF database, which compares fund sizes, expense ratios and performance.
However, ETFs represent only one segment of the public funds category, and the CMA's aggregate figures do not establish how much of the latest industry growth came specifically from ETFs.
The broader trend is clear: Saudi Arabia's investment management industry continues to expand, but its largest institutions and private investment funds remain the dominant forces behind that growth.
