Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi- Assets of investment funds surge 15% to SR103.4bn in Q3  Join our daily free Newsletter

MENAFN - Arab News - 11/01/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) Assets of investment funds operating in the Kingdom rose by 15 percent to reach SR103.4 billion in the third quarter of 2013 compared to SR90.1 billion in the same period last year



The Q3 assets of the investment funds are considered the highest in a five-year period since Q2 of 2008 where they stood at SR109.8 billion, according to a financial report prepared by Al-Eqtisadiah daily, the sister publication of Arab News



Assets of Q3 grew by 3 percent compared to figures of Q2 of 2013, which reached SR100.2 billion, the report said

The asset growth was mainly attributed to the increase of foreign assets of the funds by 25 percent to SR24.1 billion by the end of Q3 compared to SR19.3 billion in the same period last year. Meanwhile, local assets grew by 12 percent year-on-year basis to SR79.3 billion compared to SR70.8 billion in Q3, 2012, the report added



On the other hand, foreign assets grew by 8 perct on quarterly basis by the end of Q3 compared to figures of Q2, 2013, which reached SR22.3 billion, the report stated




The volume of foreign assets in the investment funds operating in the Kingdom by the end of Q3, 2013 are considered the highest in a six-year period since Q2 of 2007, which stood at SR25.2 billion whereas local assets were also the highest since Q2 of 2010, which stood at SR79.5 billion, the report said



Despite the assets' growth, the number of subscribers (investors) to the funds declined by 6 percent year-on-year basis by the end of Q3 to reach 261,544 compared to 279,654 by the end of Q3, 2012, the report said

The number of investment funds increased by 2 percent year-on-year basis to reach 243 in Q3, 2013 compared to 239 in Q3, 2012 but grew by only 1 percent on quarterly basis where the number stood at 241 in Q2, 2013. However, the number of funds was higher in Q1, 2012 touching 253, according to the report

 


Arab News




  MENA News Headlines
 Feb 14 2016 - Custodian of the Two Holy Mosques to patronize 1st Urban ForumSaudi Press Agency
(MENAFN - Saudi Press Agency) Under the patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, the Ministry of Municipal and Rural Affairs will organize the 1st Urban ...

 Feb 14 2016 - Saudi- Governor of Technical and Vocational Training Corporation meets Ireland's AmbassadorSaudi Press Agency
(MENAFN - Saudi Press Agency) The Governor of Technical and Vocational Training Corporation Dr. Ahmed bin Fahd Al-Fuhaid met here today with Irish Ambassador to the Kingdom Tony Cotter.During the ...

 Feb 14 2016 - Custodian of the Two Holy Mosques receives Switzerland's Foreign MinisterSaudi Press Agency
(MENAFN - Saudi Press Agency) The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud received at Al-Yamamah Palace here today Swiss Foreign Minister Didier Burkhalter and his ...

 Feb 14 2016 - Custodian of the Two Holy Mosques Receives Secretary General of International Telecommunication UnionSaudi Press Agency
(MENAFN - Saudi Press Agency) The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud received at Al-Yamamah palace here today the Secretary General of International Telecommunication ...

 Feb 14 2016 - Saudi- Dr. Al-Turki receives a Cambodian officialSaudi Press Agency
(MENAFN - Saudi Press Agency) The Secretary General of Muslim World League Dr. Abdullah bin Abdulmohsen Al-Turki received here today Cambodian Minister to the Premiership, Deputy Minister of labor ...

 Feb 14 2016 - "Ra'ad Al-Shamal", Largest Military Maneuver in Region's History Led by Kingdom of Saudi ArabiaSaudi Press Agency
(MENAFN - Saudi Press Agency) The Kingdom of Saudi Arabia is witnessing, during the next few hours, the arrival of troops participating in the largest and most important military maneuver in the ...

 Feb 14 2016 - Qatar- Kashiwa Reysol claim victory against 10-man AspireGulf Times
(MENAFN - Gulf Times) Kashiwa Reysol cruised to a comfortable 4-2 victory over ten-man Aspire Academy in the first game on Day 8 of Al Kass International Cup 2016.The match got underway amid blustery ...

 Feb 14 2016 - Doha RFC back on track with Bahrain blankoutGulf Times
(MENAFN - Gulf Times) Two weeks after they were handed their first defeat this season, Doha RFC 1st XV blanked out Bahrain RFC 32-0 to get their West Asia Championship campaign back on track at home ...

 Feb 14 2016 - Qatar- Cav claims second title Kristoff misses out againGulf Times
(MENAFN - Gulf Times) Last year, Alexander Kristoff won three stages but failed to emerge as the champion. History repeated itself this year, as Kristoff, despite winning three stages again, failed ...

 Feb 14 2016 - Sheikh Salman says FIFA to stay in ZurichGulf Times
(MENAFN - Gulf Times) FIFA presidential candidate Sheikh Salman bin Ebrahim al-Khalifa plans to keep the world soccer body's headquarters in Zurich and retain the name "FIFA" if he wins the race for ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help