S&P Global sees Saudi AUM surpassing $500B by 2030

S&P Global expects Saudi Arabia’s assets under management (AUM) are accelerating at “a healthy pace”, standing on track to exceed $500 billion by the end of 2030, albeit subject to market conditions.

The sector has been expanding in step with the robust performance of the Kingdom’s capital markets, the rating agency said in a recent report.

Between 2015 and 2024, Saudi AUM grew at an average annual rate of around 12%, reaching nearly $295 billion by the end of Q1 2025.

Saudi Arabia, it added, continues to enhance the appeal of its asset management industry to local and global investors through a range of initiatives.

Ongoing reforms, favorable macroeconomic trends, and the positive outlook for capital markets are expected to support this growth trajectory, S&P Global further stated.

The report highlighted that developing deep, diverse, and transparent capital markets is a key factor in strengthening sovereign creditworthiness, given their role in funding and economic diversification.

“Local capital markets would benefit from a robust institutional investor base in Saudi Arabia through potentially stronger local and international capital inflows, as well as higher liquidity,” the rating agency wrote.

It continued, “Additionally, a well-established asset management industry would give the young and growing Saudi population access to a wider and more diversified offering of investment and savings products, which could increase long-term saving ratios.”

Saudi Arabia is also working to position itself as a regional hub for capital inflows by attracting international fund managers, global capital market institutions, and asset managers.

The Kingdom has been collaborating with domestic and international partners to develop exchange-traded funds (ETFs) and real estate investment trusts (REITs), offering investors greater exposure to Saudi assets.

In recent years, major institutions have already launched several ETFs to facilitate investment in local securities.

Looking ahead, S&P Global expects the increasing number of Saudi ETFs listed abroad to bolster liquidity in secondary markets for core Saudi asset classes, as these funds attract more foreign institutional and retail investors.