CMA Proposes Tighter Investment-Fund Disclosures

Oct 20, 2026•2 min read

The Saudi Capital Market Authority has proposed an expanded set of disclosure requirements for investment funds, aimed at giving unitholders a clearer view of how their money is managed. The proposal was put forward in October 2026 and is open for public feedback.

Under the plan, funds would have to disclose the amount, source, and nature of cash distributions paid to unitholders, including investment income and capital gains realized from the sale of assets. Periodic reports would also identify a fund’s ten largest investments, the types of assets held, the counterparties involved, and the share each investment represents of the fund’s net assets.

Real-estate funds would face additional requirements. They would need to disclose the revenue generated by each property, that property’s percentage of the fund’s net asset value, and the sectoral distribution of their real-estate holdings.

Annual reports would be strengthened as well. Funds would analyze their performance against a benchmark, explain the factors affecting that performance, outline expected future performance, and provide a risk assessment for public funds. The proposal also expands disclosures on conflicts of interest, specific events, periodic reporting, and fund terms and conditions.

Why it matters

For residents and expats who invest through mutual and real-estate funds, the changes would make it easier to understand where returns come from, how concentrated a fund’s holdings are, and what risks are involved. Clearer reporting supports better-informed investment decisions and greater transparency across the market.

The available information does not state the closing date for the public consultation or when the rules would take effect.

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