Public investment funds’ assets soar 42% to SAR 174.5B in 2024

11:54 AM (Mecca time) Argaam Special

Assets of public investment funds in Saudi Arabia rose to SAR 174.5 billion in 2024, an increase of 42% from SAR 122.6 billion in 2023, data from the Saudi Central Bank (SAMA) showed.

 

The increase was driven by a rise in assets of local funds by 43% year-on-year (YoY) to SAR 144.6 billion, which represents 83% of total assets. Meanwhile, assets of foreign funds, which represent 17% of total assets, rose by 40% YoY to about SAR 29.9 billion.

 

The assets of local and foreign investment funds include stocks, bonds, cash instruments, other assets, and real estate investments.

 

The public investment funds are divided into open- and closed-end funds, with the total assets of 298 open-end funds at about SAR 143 billion, or 82% of the total assets. The assets of 27 closed-end funds reached nearly SAR 31.4 billion.

 

The number of active public investment funds at the end of 2024 reached 325, compared to 291 in 2023.

 

The number of subscribers to investment funds rose by about 491,000 to reach nearly 1.57 million at the end of 2024 compared with a year before.

 

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