What are top performing mutual funds in Saudi market by H1 2021-end (with over SAR 100 mln AUMs)?

Tadawul trading screen

SAIB Saudi Companies Fund was the top performer among local mutual funds, which invest in Saudi equities with a return of 36.3% in H1 2021, according to Argaam survey.

This survey tracked the performance of 78 out of 247 Saudi investment funds in Saudi Arabia from January 1 to June 30, 2021.

The fund is designed for investors seeking capital appreciation, over the long term, through exposure to publicly traded Sharia-compliant Saudi equities and initial public offerings (IPOs).

SAIB Fund is managed by Alistithmar for Financial Securities and Brokerage (Alistithmar Capital), whose AUMs hit nearly SAR 25 billion by the end of H1 2021.

AlAhli Small and Mid-Cap Equity Fund, managed by NCB Capital, ranked second with a positive return of 34.9%. The fund seeks to generate long-term capital growth through investments, primarily in Sharia-compliant Saudi Small and Mid-Cap companies listed on the Saudi primary market.

Argaam survey covered 78 out of 247 Saudi investment funds in the Saudi market, with AUMs of over SAR 100 million, based on prices disclosed as of June 30, 2021.

On the other hand, Alinma IPO Fund, managed by Alinma Investment, was the lowest performer among peers during the same period with a 20.9% return. The fund aims to achieve long-term capital appreciation through investing mainly in the Saudi Exchange (Tadawul) that includes IPOs of Saudi Companies, right issues and rump offerings as well as Shariah-Complaint Saudi Companies that have been listed on the Saudi stock market for less than five years.

It was followed by HSBC Saudi Equity Income Fund, which is managed by HSBC Saudi Arabia. The fund recorded a return of 21.1%. It seeks to provide income as well as long-term capital growth through investing in a portfolio of equities thare are listed on the Saudi market and meet shariah criteria. It focuses on a select group of the shares of Sharia-compliant Saudi-listed companies.

* According to prices disclosed as of June 30, 2021