Assets under management in Middle East grow faster at 16% to $1.2 trillion

Assets under management in Middle East grow faster at 16% to $1.2 trillion

The study found that global AuM grew at 12 per cent last year, to more than $112 trillion, a growth rate well above the seven per cent average of the previous 20 years

Analytics firm Preqin projected that assets under management in the region will continue to rise on the back of a surge in oil and gas prices. — File photo

Published: Mon 30 May 2022, 4:03 PM

The asset management industry (AuM) grew faster than the global average, rising by 16 per cent in the Middle East to $1.2 trillion (Dh4.4 trillion) in 2021, significantly above the 10-year growth average, according to a new report by Boston Consulting Group released on Monday.

The study found that global AuM grew at 12 per cent last year, to more than $112 trillion, a growth rate well above the seven per cent average of the previous 20 years.

Markus Massi, managing director and senior partner, BCG, said asset managers have been able to tap deeper into the retail segment as technology has made it economically feasible to serve clients of all sizes.

“Many large brokerage firms are using digital distribution platforms and Robo-advisors to democratise access to increasingly sophisticated investing options. Retail clients now receive data-driven personalization