By Mohammed Abu Meleeh

Riyadh-Mubasher: A total of 28 funds from Saudi Arabia invested in the GCC stock markets until the end of the first half of 2015, accounting for 17% of the total number of local public investment funds, according to data compiled by Mubasher.

The total number of Saudi funds investing in equities reached 165 until H1-15, rising 10% compared with 150 a year earlier.

The investment funds are the key driver of stock markets as they mostly own a big portion of shares and their managers are aware of the stock movement and market conditions.

The number of funds climbed by 23% over the last three years as it reached 134 at the end of H1-13.

The number of Saudi funds investing in the local bourse amounted to 84, or 50.9% of the total, while the number of Saudi funds investing in the Arab exchanges reached only 6 or 3.6% of the total.   

The number of Saudi funds investing in Asia and Europe reached 10 and 4, respectively. The kingdom has also six funds in the U.S. and 27 funds all over the world.

The assets of public funds investing in the local exchange amounted to SAR 43.83 billion at the end of H1-15, 65.7% or SAR 28.8 billion was dominated by Saudi funds.

The value of funds grew by 46% over the last three years as it amounted to SAR 30 billion in H1-13.

Translated by Abdul Maguid Aboshahla