Assets of Saudi investment funds fall 8% to SAR 116 bln in Q1 2023

The total value of assets held by investment funds in Saudi Arabia fell by 8% to SAR 116.01 billion in Q1 2023, compared to roughly SAR 126.1 billion in Q4 2022, data issued by the Saudi Central Bank (SAMA) showed.

 

The decline was attributed to an almost 6% quarter-on-quarter (QoQ) drop in local assets, which represent 82% of total assets, to about SAR 95.6 billion. In addition, foreign fund assets – equivalent to 18% of the total – shed 18% QoQ to nearly SAR 20.4 billion.

 

Investment funds are either open- or closed-end, with total assets of open-end funds at approximately SAR 87.96 billion, accounting for 76% of the total. Assets of closed-end investment funds amounted to around SAR 28.05 billion.

 

Investment Funds Assets (SAR bln)

Period

Q4 2022

Q1 2023

Change

Local assets

101.19

95.59

(6%)

Foreign assets

24.92

20.42

(18%)

Total

126.11

116.01

(8%)
 
 
Investment funds hold both local and foreign assets, each including shares, bonds, cash instruments and other assets. Real estate investments are also on the list.

 

The following table indicates assets of investment funds since 2005:

 

Development in Investment Fund Assets (SAR bln)

Period

Local Assets

Foreign Assets

Total

YoY Change

2005

115.66

21.31

136.97

+127%

2006

61.34

22.76

84.11

(39%)

2007

79.89

25.21

105.10

+25%

2008

61.26

13.55

74.81

(29%)

2009

74.14

15.41

89.55

+20%

2010

74.44

20.30

94.74

+6%

2011

64.53

17.66

82.19

(13%)

2012

69.81

18.26

88.07

+7%

2013

81.86

21.32

103.18

+17%

2014

81.87

28.84

110.71

+7%

2015

75.92

26.98

102.90

(7%)

2016

70.66

17.18

87.84

(15%)

2017

91.15

19.09

110.23

+25%

2018

93.65

18.21

111.86

+1%

2019

133.44

26.52

159.96

+43%

2020

149.56

60.16

209.72

+31%

2021

147.69

79.48

227.17

+8%

2022

101.19

24.92

126.11

(23%)

Q1 2023*

95.59

20.42

116.01

(8%)
*Change since year-start.

 

 

There were 260 investment funds operating in the Kingdom by the end of Q1 2023.

 

The table below shows development in the number of active investment funds since 2005:

 

Number of Investment Funds Since 2005

Change

No. of Operating Funds

Period

+11

199

2005

+15

214

2006

+38

252

2007

+10

262

2008

(18)

244

2009

(1)

243

2010

+6

249

2011

(9)

240

2012

(4)

236

2013

+16

252

2014

+18

270

2015

+5

275

2016

(2)

273

2017

(24)

249

2018

+4

253

2019

+1

254

2020

+2

256

2021

(1)

255

2022

+5

260

Q1 2023*
*Change since year-start.

 

The number of subscribers rose by 66,800 to 719,700 by the end of Q1 2023, compared to 2021-end. Development in the number of subscribers since 2005 is indicated as follows:

 

Number of Subscribers since 2005

Change

No. of Subscribers

Period

+369,927

568,284

2005

(68,316)

499,968

2006

(73,883)

426,085

2007

(51,110)

374,975

2008

(18,644)

356,331

2009

(35,916)

320,415

2010

(26,510)

293,905

2011

(18,281)

275,624

2012

(17,514)

258,110

2013

(12,079)

246,031

2014

(9,054)

236,977

2015

(12,566)

224,411

2016

+14,034

238,445

2017

+94,122

332,567

2018

(2,828)

329,739

2019

+29,155

358,894

2020

+170,418

529,312

2021

+123,557

652,869

2022

+66,843

719,712

Q1 2023*
*Change since year-start.
 

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