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Saudi investment fund assets drop to SAR 507.7B in Q3
Saudi Arabian banknotes
The total value of assets held by public and private investment funds in Saudi Arabia decreased by 1% quarter-on-quarter (QoQ) to SAR 507.7 billion by the end of the third quarter of 2023.
The number of investment funds rose to 1,209 by the end of the three-month period, the highest on record, including 283 and 926 public and private funds, respectively, according to a report issued by the Capital Market Authority (CMA).
The number of subscribers to Saudi investment funds stood at nearly 1.13 million in Q3 2023, rising from 901,300 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 Q3 2023:
|
Investment Funds |
||||
|
Period |
Funds |
Number of Funds |
Number of Subscribers ('000) |
Asset Values |
|
Q2 2023 |
Public |
276 |
818.5 |
121.0 |
|
Private |
854 |
82.8 |
393.5 |
|
|
Total |
1130 |
901.3 |
514.5 |
|
|
Q3 2023 |
Public |
283 |
1042.5 |
117.1 |
|
Private |
926 |
84.4 |
390.6 |
|
|
Total |
1209 |
1126.9 |
507.7 |
|
|
Change |
+7% |
+25% |
(1%) |
|
The public funds have 13 investment types, topped by money markets with SAR 32.2 billion, representing 27.5% of the public funds’ total assets, as shown below:
|
Public Funds by Investment Type (Q3 2023) |
|||
|
Asset Class |
Number of Funds |
Number of Subscribers ('000) |
Value of Assets |
|
Money Markets |
44 |
35.4 |
32.17 |
|
REITs |
19 |
573.4 |
27.46 |
|
Equity |
135 |
198.3 |
26.95 |
|
Debt Instruments |
18 |
8.9 |
21.82 |
|
Holding |
25 |
37.0 |
3.66 |
|
Multi-Assets |
9 |
53.6 |
2.06 |
|
CEFs |
2 |
107.3 |
1.27 |
|
ETFs |
8 |
16.9 |
0.67 |
|
Waqf |
15 |
8.8 |
0.66 |
|
Real Estate |
4 |
2.0 |
0.31 |
|
Balanced |
1 |
0.5 |
0.06 |
|
Feeder |
1 |
0.3 |
0.02 |
|
Commodity |
1 |
0.1 |
0.01 |
|
Index |
1 |
-- |
-- |
|
Total |
283 |
1042.5 |
117.12 |
The local assets of public investment funds accounted for 81% of the total or nearly SAR 94.8 billion by the end of Q3 2023, while foreign assets stood at about SAR 22.3 billion.
|
Local and Foreign Assets of Public Investment Funds since 2020 (SAR bln)* |
||||
|
Period |
Domestic |
Foreign |
Total Assets |
Local Assets to Total (%) |
|
Q1 2020 |
129.63 |
45.11 |
174.74 |
74.2% |
|
Q2 2020 |
141.85 |
39.73 |
181.58 |
78.1% |
|
Q3 2020 |
148.79 |
47.28 |
196.07 |
75.9% |
|
Q4 2020 |
149.56 |
60.16 |
209.72 |
71.3% |
|
Q1 2021 |
154.31 |
78.52 |
232.83 |
66.3% |
|
Q2 2021 |
155.22 |
86.41 |
241.63 |
64.2% |
|
Q3 2021 |
155.36 |
84.44 |
239.81 |
64.8% |
|
Q4 2021 |
147.69 |
79.48 |
227.17 |
65.0% |
|
Q1 2022 |
158.08 |
57.60 |
215.68 |
73.3% |
|
Q2 2022 |
142.66 |
49.85 |
192.51 |
74.1% |
|
Q3 2022 |
134.66 |
39.68 |
174.34 |
77.2% |
|
Q4 2022 |
101.19 |
24.92 |
126.11 |
80.2% |
|
Q1 2023 |
95.60 |
20.41 |
116.01 |
82.4 % |
|
Q2 2023 |
94.35 |
26.65 |
121.01 |
78.0 % |
|
Q3 2023 |
94.83 |
22.28 |
117.12 |
81.0 % |
The following table shows public funds investing in stocks since the beginning of 2020:
|
Public Funds Investing in Stocks since the Beginning of 2020 |
|||
|
Period |
Number of Funds |
Number of Subscribers ('000) |
Assets Value (SAR bln) |
|
Q1 2020 |
132 |
147.11 |
16.12 |
|
Q2 2020 |
130 |
146.44 |
18.24 |
|
Q3 2020 |
130 |
145.00 |
20.19 |
|
Q4 2020 |
128 |
142.97 |
21.22 |
|
Q1 2021 |
126 |
141.41 |
23.51 |
|
Q2 2021 |
126 |
140.78 |
25.19 |
|
Q3 2021 |
126 |
141.57 |
26.42 |
|
Q4 2021 |
129 |
142.32 |
25.10 |
|
Q1 2022 |
125 |
142.89 |
28.26 |
|
Q2 2022 |
125 |
142.90 |
24.41 |
|
Q3 2022 |
122 |
142.10 |
24.58 |
|
Q4 2022 |
123 |
140.63 |
23.26 |
|
Q1 2023 |
125 |
139.82 |
24.31 |
|
Q2 2023 |
130 |
144.93 |
26.93 |
|
Q3 2023 |
135 |
198.28 |
26.95 |
The value of assets held by equity and real estate funds made up 84% of the private funds’ total assets, reaching SAR 183.3 billion and SAR 143.8 billion, respectively, as follows:
|
Private Funds by Investment Type (Q3 2023) |
|||
|
Asset Class |
Number of Funds |
Number of Subscribers |
Value of Assets |
|
Equity |
176 |
820 |
183.34 |
|
Real Estate |
365 |
59849 |
143.76 |
|
Multi-Assets |
112 |
593 |
25.50 |
|
Private Equity |
158 |
6306 |
18.15 |
|
Debt Instruments |
30 |
892 |
11.74 |
|
Money Markets |
8 |
528 |
4.08 |
|
Financing |
25 |
14492 |
2.04 |
|
Venture Capital |
26 |
754 |
1.57 |
|
Feeder |
18 |
165 |
0.41 |
|
Waqf |
5 |
1 |
0.03 |
|
Commodity |
3 |
0 |
-- |
|
Total |
926 |
84400 |
390.62 |
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