Saudi investment funds record 11% higher assets in Q1

The foreign assets rose by 30.5%

  
Saudi traders monitor stock information at the Saudi stock market in Riyadh, Saudi Arabia August 25, 2020.

Saudi traders monitor stock information at the Saudi stock market in Riyadh, Saudi Arabia August 25, 2020.

REUTERS/Ahmed Yosri

Riyadh – Mubasher: The total value of assets held by Saudi Arabia's investment funds jumped by 11% to SAR 232.8 billion during the first quarter (Q1) of 2021, compared to the earlier quarter.

The rise in the value of investment funds' assets is driven by a 3.2% quarter-on-quarter (QoQ) increase in domestic assets to SAR 154.3 billion in Q1-21, as shown by recent data of the Saudi Central Bank (SAMA).

Meanwhile, the foreign assets rose by 30.5% to SAR 78.5 billion during the first three months of 2021, when compared to the previous quarter.

On an annual basis, Saudi Arabia recorded a 33.2% increase in the total assets of investment funds.

In addition, the number of subscribers to investment funds in Saudi Arabia climbed by 6.5% QoQ to 382,200 in Q1-21.

The number of funds decreased by three to 251 in the first three months of 2021, compared to the earlier period.

Source: Mubasher

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