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%) |
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%) |
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* |
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* |
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