Fsdp Quarterly Newsletter Q2 2024 Vf · Page 6

 
6  | 
Capital Market Authority: Unprecedented growth in the 
asset management industry in the Kingdom 
The asset management industry recorded record levels 
and unprecedented historical highs that cast a shadow on 
the revenues of capital market institutions (from asset 
management activity) to reach more than SAR 4.2bn 
riyals by the end of last year 2023, with a growth rate of 
58.6% over the revenues of 2019, which then amounted 
to SAR 2.7bn. 
Furthermore, the most prominent performance indicators 
of the asset management industry have achieved historic 
highs, as investment funds recorded a new record, the 
highest in history, reaching 1,285 investment funds in 
2023, compared to 607 funds in 2019, an increase of 
111.7%. 
The number of subscribers to investment funds jumped to 
more than 1.17mn subscribers by the end of 2023 
compared to 334.2 thousand two hundred subscribers in 
2019, with a growth rate of 251%, setting a new record 
that is the highest in history. 
The values of locally managed assets increased from SAR 
500bn in 2019 to SAR 871 bn in 2023, up by 74.2%, noting 
that this significant increase is due to an upward rise in 
the values of the assets of funds and special portfolios, in 
addition to an accelerated growth in the number of 
private portfolios, which also rose to a record after 
exceeding 156 thousand portfolios by the end of 2023 
compared to 1662 portfolios in 2019, an increase of 
9304%. 
Capital Market Authority: The market for corporate 
bonds and debt instruments has grown by more than 30 
billion riyals since 2019 
The Sukuk and debt capital market in Saudi Arabia has 
achieved an annual growth rate of 7.9% since 2019, with 
this growth primarily concentrated in unlisted issuances, 
which have grown at an annual rate of 9.6%. The unlisted 
sukuk 
and 
debt 
capital 
market 
has 
grown 
by 
approximately 
SAR 
33bn 
since 
2019, 
reaching 
approximately SAR 105bn in 2023, compared to SAR 72bn 
in 2019. 
The Capital Market Authority (CMA) continues its efforts 
to develop the sukuk and debt capital market as one of 
the important financing alternatives that the capital 
market provides to finance public and private sector 
projects. Since its establishment, the Sukuk and Debt 
Instruments 
Market 
Development 
Committee 
has 
implemented several initiatives to deepen and enhance 
the liquidity of the sukuk and debt capital market. The 
size of the corporate sukuk and debt capital market 
reached SAR 125bn by the end of 2023, compared to SAR 
95bn by the end of 2019. 
In terms of liquidity, the market experienced rapid 
growth in the value of trades and the number of executed 
transactions, with a traded value of SAR 2.5bn in 2023 
compared to SAR 0.8bn in 2019, marking a record number 
of executed transactions. 
A group of investors and two local companies were 
convicted of violating the financial market law and its 
executive regulations and obligated to pay SAR
198.08mn  
The Appeal Committee for Resolution of Securities 
Disputes convicted a group of investors of violating the
Capital Market Law, imposing fines on them amounting to
SAR 198.08mn. The CMA explained that the final decision 
of the ACRSD came as a result of joint coordination and 
cooperation between the CMA and relevant concerned 
authorities, and in light of the public penal lawsuits filed
by the Public Prosecution, referred to it by the CMA, 
against the violators of the Capital Market Law and its
implementing regulations. 
The