The assets in Saudi Arabia-based investment funds rose by 17.85% year on year in Q2 to exceed the US$100 billion mark.
According to statistics from the Capital Market Authority, reported by data firm Mubasher, the value of public and private funds increased from $86.13 billion to $101.3 billion.
The surge was more evident in public investment funds which grew by 44% year on year between April and June to $48.40 billion, accounting for just under half of the total assets. Furthermore, foreign assets, accounted for 22% of public fund assets, a jump of 88% since Q2 2019.
Meanwhile assets in private funds increased by just 1.1% in the quarter but accounted for a greater proportion of all funds’ assets at $53.08 billion.
The number of investment funds also rose in the quarter by 12.4% compared to Q2 in 2019, from 564 to 634 with 381 private funds and 253 public funds.
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