CDG is Set to Delegate Nearly 15 Billion Dirhams to Mutual Funds to Boost the Capital Market

At the ASFIM annual conference, Khalid Safir highlighted that the Moroccan economy is at a crucial stage in its development. Recent diplomatic advances, including the UN Security Council resolution in favor of Morocco, territorial dynamics, and the prospects of hosting the 2030 World Cup, serve as catalysts for stimulating investment and accelerating major structural projects. In this context, national savings are becoming increasingly central. “Savings are primarily a resource that reduces our dependence on external capital,” Safir emphasized. The role of CDG is to centralize, secure, and transform these savings into sustainable investments, whether in debt or equity. The key announcement from this intervention concerns the delegation strategy. CDG acknowledges the maturity achieved by the Moroccan asset management industry and aims to mobilize external managers to enhance performance, diversification, and innovation. “It is time for CDG to refocus on more strategic initiatives. We have decided to initiate a movement towards outsourcing to market players,” Safir stated, revealing that 15 billion dirhams will be delegated to mutual fund management companies in the coming months. This initiative aims to create an ecosystem where the public institution acts as a catalyst for economic transformation while allowing private managers to showcase their expertise. The role of mutual funds in financing the economy is set to be strengthened. Introduced over 25 years ago, mutual funds have become essential tools for democratizing investment and channeling savings into the real economy. CDG believes that these vehicles must continue to gain momentum. The institution also encourages the creation of new financial instruments, including debt funds, hybrid products, and funds dedicated to infrastructure projects, to diversify funding sources and better distribute risks. Safir noted that the Moroccan market remains largely focused on debt, to the detriment of equities. He believes a rebalancing is necessary to support productive investment, innovation, and the growth of the private sector. The partial outsourcing of CDG's financial management aligns with the goal of accelerating the depth and diversity of the capital market.