The Saudi Market Authority proposes new amendments to investment fund disclosures

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The Saudi Capital Market Authority called on all those interested and participating in the financial market to submit their views regarding developing the disclosure requirements for investment funds, through the draft regulatory framework to amend the investment funds regulations, the real estate investment funds regulations, and the list of terms used in the Capital Market Authority’s regulations and rules, within a period of (30) days ending on November 17, 2026.

The Authority stated in a statement on its platform today, Sunday, that the proposed project aims to enhance the level of transparency and raise the efficiency of supervision, which contributes to improving the quality of information available to investors, and supports making investment decisions based on clear foundations.

One of the most prominent features of the project is the integration of ongoing obligations related to disclosures and announcements into one place within the regulations, thus enhancing the clarity of the regulatory framework for those requirements.

The proposed project also aimed to develop a number of requirements for investment fund disclosures, including requirements for disclosing conflicts of interest, certain events, the contents of annual reports and periodic reports, and the terms and conditions of the fund.

At the level of information required in the annual reports and periodic reports, the project included adding details of the profits distributed to unit owners, clarifying the sources and nature of the cash distributions, including, but not limited to, the distributions achieved from the fund’s investments, and the capital gains achieved from the sale of its assets, in addition to including details of the ten largest investments in the fund, including the type of asset invested in, the name of the counterparty, and the investment percentage of the fund’s net assets, in addition to disclosing the revenues of each real estate asset and their percentage of the fund’s net assets, and the sectoral distribution of real estate, in a way that enables owners Units are able to make their investment decisions on a clearer basis.

The project also included adding a detailed analytical statement of the fund’s performance, including an evaluation of its performance compared to the indicative indicator, an explanation of the factors affecting performance, a presentation of future expectations, and a risk assessment report for the general fund.

Among the aspects addressed by the proposed project is the unification of publication channels to be through the market’s website as a mandatory and main channel for disclosure, while allowing publication in additional sites, in a way that enhances investors’ ease of access to information and raises the level of transparency.

The Capital Market Authority confirmed that all views and comments received from the public will be the subject of attention and study, for the purpose of adopting the final version of the project, which in turn will contribute to achieving the goal of improvement and development of the regulatory environment, explaining that comments can be expressed through the following means:

The unified electronic platform for polling the opinions of the public and government agencies affiliated with the Saudi Competitiveness and Business Center (survey platform) through the electronic link: istitlaa.ncc.gov.sa.