MENA Asset Management Survey 2012 - National Bank of Abu Dhabi

Saudi Arabia
Fund Industry Profile 1992-2012Q3
(millions of U.S. dollars where relevant, end-period)
Period
No of
Funds
Domestic
Assets
Foreign
Assets
Total
Assets Subscribers
1992 52 1.41 1.89 3.31 33,162
1993 60 1.97 2.24 4.21 34,170
1994 61 1.41 1.82 3.23 30,945
1995 71 1.54 1.92 3.46 33,051
1996 83 2.17 2.27 4.44 45,136
1997 104 2.99 2.73 5.71 63,307
1998 121 3.2 3.47 6.67 69,543
1999 134 4.26 4.99 9.25 79,322
2000 138 4.42 5.86 10.28 95,800
2001 138 8.11 5.24 13.35 173,999
2002 143 8.75 4.26 13.02 165,044
2003 170 9.93 4.44 14.37 172,197
2004 188 11.86 4.22 16.09 198,357
2005 199 30.84 5.68 36.53 568,284
2006 214 16.36 6.07 22.43 499,968
2006 252 21.3 6.72 28.03 426,085
2008 262 16.34 3.61 19.95 374,975
2009 244 19.77 4.11 23.88 356,331
2010 243 19.85 5.41 25.26 320,415
2011 249 17.21 4.71 21.92 293,905
2012Q3 239 18.88 5.14 24.02 279,654
Source: SAMA
In 2010, the Saudi fund industry remained concentrated with the top 10 firms accounting
for 99% of subscribers and 96% of fund assets.
The steady decline in subscriber numbers continued in 2010 and 2011. 369,927 new
subscribers had bought funds during the stockmarket bubble in 2005. These investors
have gradually been exiting funds. Fund assets rose in 2010 notwithstanding the decline
in subscriber numbers, but gave up gains in 2011. At the end of 2011Q3, fund assets
were 38% lower than in 2005. The decline in the number of total funds also continued.