RIYADH: Saudi Arabia’s asset management industry looks resilient in 2021, according to global audit, tax and advisory firm KPMG, with official stock market listings and the increased presence of foreign investors set to be the major trends this year. According to KPMG’s analysis, Saudi asset management firms managed SR471 billion ($125.6 billion) of assets under management as of the end of September 2020, up 14 percent compared to the end of 2019. “A resilient asset management industry has withstood the two-fold challenges posed by the decline in oil prices and the COVID-19 pandemic, whereby investor redemptions have been limited and asset prices have either been stable or have rebounded,” said Ovais Shahab, head of financial services at KPMG in Saudi Arabia.