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FinancialNews
04-09-22
Saudi investment funds record biggest drop since 2006
(MENAFN) The overall assets of Saudi Arabia’s investment funds fell by SR23.2 billion (USD6.2 billion) in the April-June period of this year, as shown by data from the Saudi Central Bank, also known as SAMA.
This fall registered the sharpest drop the nation has witnessed since the April-June period 16 years ago (2006), when the decline in total fund assets totaled SR30 billion (nearly USD7.9 billion).
While the 2006 slump was mainly caused by the SR28.8 billion (nearly USD7.6 billion) fall in the Kingdom’s local stakes, this year’s slump was caused by an extra general decline in a range of asset types.
Foreign money market instruments saw the biggest drop of SR8.7 billion (nearly USD2.3 billion) in the stated quarter of 2022.
Local stakes and other domestic assets declined by SR6.4 billion (nearly USD1.7 billion) and SR4.5 billion (nearly USD1.2 billion) individually in the April-June period.
Additionally, domestic money market instruments and domestic sukuk and bonds dropped by SR4.1 billion (nearly USD1.09 billion) and SR1.3 billion (nearly USD345 million) individually, as shown by SAMA figures.
Investment funds’ assets have been witnessing a falling trend since the July-September period of last year.
MENAFN04092022000045014228ID1104807622
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