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Saudi asset management industry remains resilient, cautiously optimistic in 2021
Muzaffar Rizvi/Dubai
Filed on April 3, 2021
A man counts Saudi riyal banknotes at his jewellery shop in Tiba market in the capital Riyadh. The overarching rationale for the strong performance of the asset management industry during 2020 was the domestic focus of the industry in investments and reliance on affluent and institutional investors.
AFP file
Latest available data shows that Saudi asset management companies have recorded a steady growth in revenue, profitability and assets under management (AUMs) last year as they managed to aggregate SR471 billion of AUMs
The Saudi asset management industry is well prepared to play a pivotal role in providing the neces-sary impetus to the overall economic recovery after posting 14 per cent growth in 2020, experts say. ....

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