Saudi assets of investment funds up 8.6 percent
The total assets value of the investment funds run by the 10 biggest Saudi banks grew to SR37.6 billion ($10 billion) by the end of the first quarter of this year—up from SR34.6 billion ($9.23 billion) at the end of 1999. According to Al-Hayat newspaper, these figures translate into an 8.6 percent growth. The Saudi Arabia Monetary Authority (SAMA) also reported that the number of the existing investment funds in Saudi Arabia has increased to a total of 132 diverse funds.
The value of the Saudi investment funds in the global markets totalled SR22.9 billion ($6.1 billion), which is equivalent to 22.9 percent of these funds’ total assets holdings. The funds invested by these in the local markets totaled SR14.7 billion ($3.9 billion), which is equivalent to 39.1 percent of the total assets. –(Albawaba-MEBG)