5 Emirati entities are included in the Forbes list of the 30 largest asset management companies
The United Arab Emirates snatched 5 seats in the Forbes Middle East list of the 30 largest asset management companies in the Middle East 2021, which highlights the financial experts and investment leaders in the region.
Shuaa Capital Company
According to the list, the UAE's Shuaa Capital was among the top 10 asset management companies in the Middle East, ranking sixth in the list with total assets under management of $14 billion.
The list was prepared based on the value of the total assets of the companies under management, according to the figures at the end of December 2020, so the value of the assets under management of all the existing companies amounted to about $258.2 billion.
Al Ahly Capital Company
Forbes indicated that NCB Capital, the investment arm of the Saudi National Bank, topped the list, making it the largest asset manager in the Middle East with $50.4 billion.
NCB Capital and Samba Capital will complete their merger in the third quarter of this year, to form the largest asset management, securities brokerage and investment bank in Saudi Arabia.
Bahraini Investcorp Company
It is followed by Bahrain's Investcorp with $35 billion in assets under management. While the value of assets under management for each of the Saudi Alinma Investment Company and Riyad Capital, about 18 billion dollars.
According to the Forbes report, the companies on the list come from 6 countries, and the Kingdom of Saudi Arabia dominates the list with 16 companies, followed by the United Arab Emirates with 5 companies, which together make up 70% of the list.
