Fund Performance for the month of May 2026

Al Mal Capital reported May 2026 performance for its MENA and UAE equity funds, highlighted by the UAE's official exit from OPEC and OPEC+ effective May 1, 2026.
The Al Mal MENA Equity Fund recorded a May return of -1.8% and a NAV per unit of USD 10.67, with top holdings in Al Rajhi Bank (7.1%) and Saudi National Bank (7.1%).
The Al Mal UAE Equity Fund reported a NAV of AED 1.87 and a monthly return of -4.3%, outperforming its benchmark of -5.3% despite a year-to-date decline of 6.3%.
Fund managers noted a broad GCC market recovery in May following geopolitical volatility, with the Saudi market up 5.6% year-to-date while the Dubai market remained down 4.8%.