AI Summary
The total value of assets held by public and private investment funds in Saudi Arabia increased 7% quarter-on-quarter (QoQ) to SAR 596.6 billion by the end of the first quarter of 2024.
The number of investment funds rose to a historic high of 1,344 by the end of the three-month period, including 298 public funds and 1,046 private funds, according to a report issued by the Capital Market Authority (CMA).
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The number of subscribers to Saudi public and private investment funds stood at nearly 1.27 million in Q1 2024, higher than 1.17 million in the previous quarter.
Investment funds include a group of securities, selected based on specific criteria that achieve the fund's investment objectives and divided into public and private funds.
Profits generated by investment funds are usually capital gains, which are profits resulting from any improvement or change in prices of invested securities, in addition to dividends, if any.
The table below shows details of investment funds by the end of Q1 2024:
|
Investment Funds |
||||
|
Period |
Funds |
Number of Funds |
Number of Subscribers (’000) |
Assets Value (SAR bln) |
|
Q4 2023 |
Public |
291 |
1080.5 |
122.6 |
|
Private |
994 |
92.4 |
435.6 |
|
|
Total |
1285 |
1172.9 |
558.2 |
|
|
Q1 2024 |
Public |
298 |
1162.8 |
136.7 |
|
Private |
1046 |
107.0 |
459.9 |
|
|
Total |
1344 |
1269.8 |
596.6 |
|
|
Change (%) |
+5% |
+8% |
+7% |
|
In terms of investment type, the value of assets held by money market funds represented 26%, or SAR 35.78 billion, of public funds’ total assets, as shown below:
|
Public Funds by Investment Type (Q1 2024) |
|||
|
Asset Class |
Number of Funds |
Number of Subscribers (‘000) |
Assets Value |
|
Money Markets |
44 |
47.8 |
35.78 |
|
Equity |
132 |
255.9 |
34.35 |
|
REITs |
20 |
531.5 |
27.35 |
|
Debt Instruments |
20 |
10.1 |
24.23 |
|
Holding |
28 |
62.4 |
5.48 |
|
Multi-Assets |
10 |
109.7 |
3.21 |
|
Index |
5 |
1.4 |
3.06 |
|
CEFs |
3 |
96.4 |
1.34 |
|
Waqf |
20 |
26.3 |
0.91 |
|
ETFs |
9 |
18.4 |
0.65 |
|
Real Estate |
4 |
2.0 |
0.24 |
|
Balanced |
1 |
0.3 |
0.04 |
|
Feeder |
1 |
0.3 |
0.02 |
|
Commodities |
1 |
0.1 |
0.01 |
|
Total |
298 |
1162.8 |
136.66 |
The local assets of public investment funds accounted for 85% of the total, or nearly SAR 115.67 billion, by the end of Q1 2024, while foreign assets stood at about SAR 21 billion.
|
Local & Foreign Assets of Public Investment Funds since 2020 (SAR bln)* |
||||
|
Period |
Local |
Foreign |
Total Assets |
Local Assets to Total (%) |
|
Q1 2020 |
129.63 |
45.11 |
174.74 |
74.2% |
|
Q2 |
141.85 |
39.73 |
181.58 |
78.1% |
|
Q3 |
148.79 |
47.28 |
196.07 |
75.9% |
|
Q4 |
149.56 |
60.16 |
209.72 |
71.3% |
|
Q1 2021 |
154.31 |
78.52 |
232.83 |
66.3% |
|
Q2 |
155.23 |
86.41 |
241.64 |
64.2% |
|
Q3 |
155.36 |
84.44 |
239.81 |
64.8% |
|
Q4 |
147.69 |
79.48 |
227.17 |
65.0% |
|
Q1 2022 |
158.08 |
57.60 |
215.68 |
73.3% |
|
Q2 |
142.66 |
49.85 |
192.51 |
74.1% |
|
Q3 |
134.66 |
39.68 |
174.34 |
77.2% |
|
Q4 |
101.19 |
24.92 |
126.11 |
80.2% |
|
Q1 2023 |
95.59 |
20.42 |
116.01 |
82.4% |
|
Q2 |
94.35 |
26.65 |
121.01 |
78.0% |
|
Q3 |
94.83 |
22.28 |
117.12 |
81.0% |
|
Q4 |
101.18 |
21.40 |
122.58 |
82.5% |
|
Q1 2024 |
115.67 |
20.99 |
136.66 |
84.6% |
The following table shows public funds investing in stocks since the beginning of 2020:
|
Public Funds Investing in Stocks since 2020-Start |
|||
|
Period |
Number of Funds |
Number of Subscribers ('000) |
Assets Value (SAR bln) |
|
Q1 2020 |
132 |
147.11 |
16.12 |
|
Q2 |
130 |
146.44 |
18.24 |
|
Q3 |
130 |
145.00 |
20.19 |
|
Q4 |
128 |
142.97 |
21.22 |
|
Q1 2021 |
126 |
141.41 |
23.51 |
|
Q2 |
126 |
140.78 |
25.19 |
|
Q3 |
126 |
141.57 |
26.42 |
|
Q4 |
129 |
142.32 |
25.10 |
|
Q1 2022 |
125 |
142.89 |
28.26 |
|
Q2 |
125 |
142.90 |
24.41 |
|
Q3 |
122 |
142.10 |
24.58 |
|
Q4 |
123 |
140.63 |
23.26 |
|
Q1 2023 |
125 |
139.82 |
24.31 |
|
Q2 |
130 |
144.93 |
26.93 |
|
Q3 |
135 |
198.28 |
26.95 |
|
Q4 |
132 |
209.13 |
28.23 |
|
Q1 2024 |
132 |
255.88 |
34.35 |
The value of assets held by equity and real estate private funds accounted for 83.5% of private funds’ total assets, or SAR 209.9 billion and SAR 174 billion, respectively.
|
Private Funds by Investment Type (Q1 2024) |
|||
|
Asset Class |
Number of Funds |
Number of Subscribers |
Assets Value |
|
Equity |
180 |
1450 |
209.94 |
|
Real Estate |
440 |
74313 |
173.98 |
|
Multi-Assets |
117 |
657 |
29.83 |
|
Private Equity |
170 |
7298 |
22.85 |
|
Debt Instruments |
33 |
944 |
13.48 |
|
Money Markets |
10 |
512 |
4.07 |
|
Venture Capital |
31 |
832 |
2.49 |
|
Financing |
34 |
20717 |
2.24 |
|
Feeder |
23 |
266 |
1.01 |
|
Waqf |
5 |
1 |
0.03 |
|
Commodities |
3 |
2 |
0.01 |
|
Total |
1046 |
106992 |
459.93 |
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