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Saudi investment funds record 11% higher assets in Q1-21

Saudi investment funds record 11% higher assets in Q1-21
The foreign assets rose by 30.5% to SAR 78.5 billion

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.