GCC asset management to hit $500bn in onshore assets in next three years (2024)

Table of Contents
PRIYANKA BOGHANI, MIDDLE EAST Editor’s Picks A Strategy& Middle East report estimates more than 70% of regional private wealth is in offshore accounts currently. Leave a comment The Indian wealth manager is also seeing an uptick in interest in Reits and InvITs, as well as gold among its high and ultra-high-net-worth clients amid a frothy equities market. PRIYANKA BOGHANI, MIDDLE EAST Editor’s Picks Wealth Management The recent Dubai FinTech Summit saw a surge in attendance and international attention, amid the city’s aspirations to establish itself as a global fintech hub. Fund Selection Shailaja Krishnamurthy was the vice president of the investment product team at Rakbank for more than two years. Fund Manager Views Two portfolio managers discuss how the technology sector should be played for longer term prospects despite sell-off. Shariah Investing The fund will adopt a fixed maturity strategy of four years. ESG The size is the largest sustainable issuance by a Middle East financial institution, in nearly a year. Publications Private Markets

GCC asset management to hit $500bn in onshore assets in next three years (1) GCC asset management to hit $500bn in onshore assets in next three years (2)

PRIYANKA BOGHANI, MIDDLE EAST

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Appointment 17 Apr, 2024

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Asset Management 29 Aug, 2023

A Strategy& Middle East report estimates more than 70% of regional private wealth is in offshore accounts currently.

GCC asset management to hit $500bn in onshore assets in next three years (3)

By Paromita Dey

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The GCC asset management market is projected to grow, reaching about $500bn in onshore assets by 2026, a leap from $400bn at the end of 2022, according to a report by Strategy& Middle East, part of the PwC network.

Despite global market complexities, the GCC asset management industry exhibits robust growth potential, driven by strong capital inflows, favorable oil prices and substantial trade surpluses.

Wealthy individuals are also attracted to the region, with the UAE previously projected to attract the most millionaires worldwide in 2022. Additionally, an increased appetite for IPOs saw the Middle East raise a record amount in proceeds, exceeding $20bn in 2022.

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GCC asset management to hit $500bn in onshore assets in next three years (4)

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PRIYANKA BOGHANI, MIDDLE EAST

Editor’s Picks

view from india 23 May, 2024

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Appointment 17 Apr, 2024

Lombard Odier hires from UBS for New Markets head role

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Our privacy policy is available to read at any time here.

Wealth Management

Dubai 07 May, 2024 Story By Cheryl Heng

Dubai fintech summit draws global interest

The recent Dubai FinTech Summit saw a surge in attendance and international attention, amid the city’s aspirations to establish itself as a global fintech hub.

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Goldman Sachs names Mena head for private wealth management capital markets

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LGT PB seeks new hires and acquisitions in Middle East to add value

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BNP Paribas WM’s Jafree talks growing investor appetite for alts

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Fund Selection

selector move 15 Feb, 2024 Story By Paromita Dey

Former Rakbank investment product team VP joins Dubai IAM

Shailaja Krishnamurthy was the vice president of the investment product team at Rakbank for more than two years.

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Fund Manager Views

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Shariah Investing

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ESG

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GCC asset management to hit $500bn in onshore assets in next three years (2024)
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