Overview of top-performing Saudi equity funds above SAR 100M AUMs in H1 2024

In this report, Argaam monitors the performance of 42 out of nearly 287 local equity funds that invest in Saudi equities and have assets under management (AUMs) of more than SAR 100 million in H1 2024. 

Al Rajhi Mid/Small-Cap Fund, managed by Al Rajhi Capital, was the top performer with a return of 29.9%. It is an open-ended public investment fund focusing on capital growth by primarily investing in shares of medium and small companies listed on the Saudi Exchange (Tadawul), initial public offerings (IPOs), rights issues, and other Shariah-complaint offerings.

Al Rajhi Momentum Fund, also managed by Al Rajhi Capital, came in second, with a 20.4% yield. It is an open-ended public fund that seeks to generate capital growth by investing mainly in Tadawul-listed stocks, IPOs, rights issues, and other Shariah-complaint offerings, capital markets, and REITs.

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Meanwhile, Al Rajhi Capital-managed Al Rajhi Freestyle Saudi Equity Fund took the third rank, with a return of 20.3%. It is an open-ended public fund that targets capital growth by mainly tapping Tadawul-listed stocks, IPOs, rights issues, and other Shariah-complaint offerings, capital markets, and REITs.