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GCC ASSET MANAGEMENT REACHES $2.7 TRILLION IN 2025, UP 10% FROM 2024

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Assets under management (AuM[1]) in the GCC grew by 10% in 2025, reaching $2.7 trillion and marking one of the strongest annual performances in over a decade, according to a new report from Boston Consulting Group (BCG). The findings, released as part of BCG’s Global Asset Management Report 2026: An Imperative for Growth, reveal that the GCC retail segment demonstrated particularly strong performance, recording growth of 14% while institutional assets increased by 9%. While institutional assets continue to dominate the regional market, retail assets are growing at a faster pace, with retail representing 7% and institutional assets accounting for 93% of total regional AuM.

Saudi Arabia continues to anchor regional growth, commanding the highest share of retail mutual funds and ETFs across both the broader Middle East and the GCC, followed by the UAE and Kuwait. The Kingdom’s General Organization for Social Insurance Public Pension Agency (GOSI-PPA) remains the largest pension fund in the region, with Kuwait’s WAFRA maintaining its position as the second largest. Among sovereign wealth funds, the Kuwait Investment Authority recorded the largest externally managed AuM, followed by the Abu Dhabi Investment Authority.

“The GCC asset management industry is at an inflection point that demands a fundamentally different approach to competition,” said Lukasz Rey, Managing Director & Partner and Middle East Head of Financial Institutions at BCG. “While near-term dynamics will depend on the broader market environment, the region’s structural fundamentals remain compelling, and many asset managers continue to view the GCC as a strategic priority. Firms that invest in distribution capabilities and technological transformation will be best positioned to navigate uncertainty and capture the opportunities ahead.”

In addition to regional dynamics, BCG’s Global Asset Management Report 2026 identifies key structural forces transforming the industry on a global scale, from the growing centrality of distribution to the adoption of AI-driven operating models and the emergence of tokenization.

Globally, BCG’s report finds that growth is becoming more concentrated among leading firms with scale and distribution access. Revenue growth is decoupling from asset growth as fees decline, while traditional economies of scale are being offset by rising technology investment and fee pressure. Together, these trends point to a more competitive environment in which only a subset of firms is positioned to capture disproportionate growth.

Distribution Becomes the Key Competitive Differentiator

The report emphasizes that the basis of competition in asset management is undergoing a structural shift globally, with distribution emerging as the primary battleground for growth. As product manufacturing becomes increasingly commoditized, control of distribution channels, including platforms, advisors, and institutional relationships, is becoming the key determinant of success.

AI is accelerating these shifts by compressing traditional differentiation and enabling new forms of scale. Globally, BCG estimates asset managers could reduce costs by 25–35% over the next three to five years, while increasing research coverage two- to five-fold and client coverage per relationship manager three to five-fold, all with faster, more scalable personalization. AI allows firms to scale without proportional headcount increases, fundamentally changing the economics of growth. However, most firms remain in early adoption stages, focused on pilots rather than full transformation. Those that fail to redesign their operating models risk falling behind AI-native competitors that can scale faster and operate more efficiently.

“Middle East asset managers have an opportunity to leapfrog traditional operating models by embedding AI and digital capabilities into their core operations,” said Mohammad Khan, Managing Director & Partner at BCG. “While the path forward will require navigating evolving market conditions, firms that move strategically to build scalable distribution networks and technology-enabled platforms will be well positioned to shape the next era of regional asset management.”

Tokenization as a Catalyst for Disruption

Alongside AI, BCG’s global report identifies tokenization and digital assets as emerging forces that could reshape market structure. The value of tokenized real-world assets is projected to reach $14 trillion by 2030 and $55 trillion by 2035, creating new channels for distribution, ownership, and product design. These developments could alter how assets are accessed, transferred, and managed, potentially weakening traditional advantages tied to scale and distribution while enabling new entrants to compete.

“The convergence of tokenization, AI, and evolving investor expectations is reshaping the competitive landscape in ways that favor agility over incumbency,” said Nabil Saadallah, Managing Director & Partner at BCG. “For asset managers in the GCC, success will increasingly hinge on their ability to deliver personalized solutions at scale, those who embrace this shift stand to unlock significant value in a rapidly transforming market.”

As market-driven growth gives way to competition-driven growth, asset managers face a more complex and less forgiving landscape. Capturing net inflows, building scalable distribution, and embedding technology into core operations will determine which firms succeed.

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Tech First Gulf Strengthens its presence in Africa with the appointment of Mustapha Rafiki as General Manager – Maghreb & Francophone Africa

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Tech First Gulf (TFG), a leading value-added technology distributor across the Middle East and Africa, is pleased to announce the appointment of Mustapha Rafiki as General Manager – Maghreb & Francophone Africa. This strategic appointment marks another significant milestone in TFG’s continued regional expansion and reinforces the company’s commitment to strengthening its footprint across Africa.

With over 19 years of experience in the information technology industry, Mustapha brings extensive expertise in business development, channel management, sales leadership, and operational excellence. Throughout his career, he has successfully built and managed high-performing partner ecosystems while driving sustainable business growth across North, West, East, and Central Africa.

Before joining Tech First Gulf, Mustapha served as Head of B2B Africa at Logitech, where he led business operations across multiple African markets, developing strategic go-to-market initiatives and strengthening channel partnerships. Prior to Logitech, he held the position of Country Manager at Canon, where he played a pivotal role in expanding the company’s presence, developing strategic alliances, and accelerating growth across key enterprise and commercial segments.

As TFG continues to expand its operations throughout Africa, Mustapha’s appointment reflects the company’s vision of investing in experienced leadership to unlock new opportunities, deepen vendor and partner relationships, and deliver greater value to customers across the markets.

Under his leadership, TFG aims to accelerate regional growth by strengthening its distribution network, expanding strategic technology alliances, enabling channel partners, and introducing innovative solutions that address the evolving needs of enterprises and public sector organizations across the region. His deep understanding of African markets, combined with his proven leadership, will play a vital role in driving TFG’s next phase of growth.

“We are pleased to welcome Mustapha to Tech First Gulf as we continue our expansion across the region. The markets under his leadership offer tremendous opportunities for growth and innovation, and we remain committed to investing in their future through strong leadership and long-term partnerships. Mustapha’s proven track record, strategic vision, and extensive regional expertise make him the ideal leader to accelerate our growth, strengthen our market presence, and deliver lasting value to our partners and customers,” said Mr. Akashdeep (Sky), Chief Strategy Officer, Tech First Gulf

Commenting on his appointment, Mustapha Rafiki said:

“I am excited to join Tech First Gulf at such an important stage of its growth journey. TFG has built a strong reputation for delivering innovative technology solutions and empowering its partner ecosystem. I look forward to working closely with our vendors, partners, and customers to accelerate growth, expand our market presence, and create lasting value across the region.”

As Tech First Gulf continues its regional expansion strategy, the company remains focused on empowering businesses through world-class technology solutions, strengthening strategic partnerships, and building a future-ready digital ecosystem across India, Middle East and Africa.

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Turnitin Expands AI Writing Detection to Support Arabic Language Submissions

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Turnitin recently announced the launch of its AI writing detection capabilities for Arabic language submissions, marking a significant step in supporting educators and students worldwide. This expansion helps equip Arabic-speaking educators with the tools necessary to safeguard academic integrity and nurture original thinking in the classroom.

As AI adoption among students becomes nearly universal, educators require solutions that promote transparency, rather than surveillance. Turnitin goes beyond simply verifying authorship, its tools support the broader learning journey, and help equip students with the critical skills demanded by today’s workforce.

“By providing Arabic-speaking educators with tools that uphold learning integrity, we ensure that they have solutions designed to support original thought and critical thinking, rather than having LLMs replace it,” said James Thorley, Vice President of APAC and EMEA at Turnitin. “While there is no substitute for knowing a student’s writing style, educational background, and institutional AI policies, this tool gives educators insights into areas where AI may have been used. Ultimately, it opens the door to meaningful, informed conversations about the responsible use of AI.”

AI writing detection for Arabic is now available through Turnitin Originality and as an add-on for iThenticate customers. Like the English, Spanish, and Japanese versions, the feature provides educators with an overall percentage of likely AI-generated content, alongside:

Detection capabilities for the leading large language models, reporting designed with educators in mind and seamless integration into existing customer workflows.

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NetApp to Showcase how the NetApp Platform Enables AI-ready Data, Unified Storage, Proactive Protection and Complete Control at LEAP 2026

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NetApp, the Intelligent Data Infrastructure company, announced its participation at LEAP 2026, taking place from August 31 to September 3 at the Riyadh Exhibition and Convention Center (RECC) in Malham, Saudi Arabia. NetApp will showcase how the NetApp Platform helps organizations make their data always AI-ready and secure so they can take on the most demanding tasks and solve the most complex problems for any workload across their hybrid-multi-cloud environments.   

Saeed Alzahrani

With Saudi Arabia designating 2026 as the Year of Artificial Intelligence, organizations across the Kingdom are shifting toward applying AI across business operations and building the capabilities needed to scale its use. As more enterprises advance their AI initiatives, their data spans multiple environments, creating challenges around how it is accessed, managed and secured.

“Saudi Arabia is rapidly emerging as one of the world’s most ambitious AI markets, with investments that are not only transforming the Kingdom but helping shape the next generation of AI infrastructure globally,” said Suhail Hasanain, Senior Director and General Manager, MEA at NetApp. “As AI moves from experimentation to large-scale production, the competitive advantage will increasingly depend on data, how quickly organizations can access it, govern it, protect it and make it available to AI wherever it resides. NetApp is focused on helping organizations in Saudi Arabia unlock their enterprise data for AI securely and at scale across hybrid and multicloud environments.”

“Enterprises need to ensure they are always protected with AI-driven, built-in data security that autonomously detects threats and guarantees rapid recovery,” said Saeed Alzahrani, Country Manager, Saudi Arabia at NetApp. “ Security must be embedded into the data itself, not just the perimeter. NetApp provides autonomous, AI-driven defense mechanisms that detect, protect, and recover data better and faster than ever before.”

LEAP is one of the world’s largest technology events, bringing together technology leaders, businesses, investors, startups and innovators to explore developments across AI, fintech, smart cities, health technology and education technology.

Visitors can find NetApp in  Hall 1.

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