Saudi public funds raise their investments in American and European stocks by 79.5%

Public investment funds in Saudi Arabia increased their assets in the US and European stock markets, by the end of the second quarter of 2021, by 79.5% on an annual basis.

The total assets of public funds invested in the American and European stock market amounted to about 2.33 billion riyals at the end of the second quarter of this year 2021, while the assets of the funds reached during the same period of the year The past is about 1.29 billion riyals, a difference of 1.03 billion riyals.

In this way, their assets in the American and European markets recorded the highest level in five years, specifically since mid-2016, coinciding with recording record levels especially for the American markets, according to Al-Eqtisadiah newspaper.< /p>

These assets recorded a growth for the fifth consecutive quarter, growing by 18.3%, compared to the first quarter of the same year, when assets constituted about 1.97 billion riyals at the time.

In detail, the assets of public and invested funds in the US market amounted to about 1.54 billion riyals (equivalent to 66% of the two markets) at the end of the second quarter of 2021, recording a growth of about 85% for the period Similar to last year, with a difference of about 705 million riyals.

Its assets in the European stock market also increased by 70% year on year, reaching about 791 million riyals, compared to 465 million riyals for the same period, a difference of about 326 million riyals. .

According to the analysis, the investments of public funds in European and American stocks are equivalent to about 33% of the volume of assets of funds invested in stocks through foreign markets by the end of the second quarter of 2021, while they were It is about 28% for the same period 2020.

Thus, the size of the assets of public funds invested in foreign markets amounted to about seven billion riyals, compared to about 4.66 billion riyals for the same period of the previous year, an increase of 50% .

Public funds' investments in Gulf stocks rank second after the United States and Europe, as they constitute about 27.8% of the volume of foreign assets.

The number of public funds invested in the American and European market reached about seven, out of 54 funds approved by the Capital Market Authority that invest their assets through foreign markets.

The number of subscribers reached 912, compared to 541 during the same period last year.