Fund management industry crosses trillion-ringgit mark

Securities Commission executive director of market development Salmah Bee Mohd Mydin.

KUALA LUMPUR: The fund management industry has surpassed the trillion-ringgit milestone since February this year, driven by robust performance in the equity markets, especially due to strong valuations in the United States, according to the Securities Commission (SC).

Its executive director of market development, Salmah Bee Mohd Mydin, said the industry has grown steadily over the past decade, with assets under management (AUM) increasing by more than 65% to RM975.5bil in 2023 from RM588.4bil in 2013.