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 percent 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
 Aug 4 2015 - Turkey's Erdogan says Putin may 'give up' on AssadThe Peninsula
(MENAFN - The Peninsula) Russian President Vladimir Putin is having a change of heart on the Kremlin's wholehearted support for Syrian leader Bashar al-Assad and may "give up on him" in the future, ...

 Aug 4 2015 - Qatar- Sheikh Ahmad coy about who should succeed BlatterThe Peninsula
(MENAFN - The Peninsula) As the candidates hoping to succeed FIFA's outgoing President Sepp Blatter continue to lobby for support, the political kingmaker who could have a big influence on who gets ...

 Aug 4 2015 - Tunisia's Yassine leaves FC Zurich for Al GharafaThe Peninsula
(MENAFN - The Peninsula) Tunisian mid-fielder Yassine Chikhaoui (pictured) has joined Qatar's Al Gharafa Sports Club with immediate effect, his agent Khalid Al Qasabi said yesterday.The 28-year-old ...

 Aug 4 2015 - Qatar- Ministry recalls Chevrolet Corvette 2014 to modify airbags positionThe Peninsula
(MENAFN - The Peninsula) The Ministry of Economy and Commerce (MEC), in collaboration with Chevrolet's sole distributor in Qatar, Jaidah Automotive, has announced the recall of Chevrolet Corvette ...

 Aug 4 2015 - Gulf markets edge up after sell-off Egypt softThe Peninsula
(MENAFN - The Peninsula) Major Gulf stock markets edged up yesterday after Sunday's sell-off but Saudi Arabia lagged because telecommunications operator Mobily tumbled following yet another negative ...

 Aug 4 2015 - Industries Qatar's H1 net profit touches QR2.4bnThe Peninsula
(MENAFN - The Peninsula) Industries Qatar (IQ), one of the region's industrial giants with interests in the production of a wide range of petrochemical, fertiliser and steel products delivered a net ...

 Aug 4 2015 - U.S., Gulf states plan to counter destabilising acts in region - KerryThe Peninsula
(MENAFN - The Peninsula) U.S. Secretary of State John Kerry (3rd L), Qatari Foreign Minister HE Khalid Al Attiyah (2nd L), GCC Secretary-General Abdullatif bin Rashid Al Zayani of Bahrain (2nd R) and ...

 Aug 4 2015 - Jewish extremist head arrested after anti-Arab violenceThe Peninsula
(MENAFN - The Peninsula) A Jewish extremist group's leader was arrested Monday after a Palestinian baby died in a West Bank firebombing, as police investigated online threats against Israel's ...

 Aug 4 2015 - Libya probes video of guards beating Gaddafi's jailed sonThe Peninsula
(MENAFN - The Peninsula) Libyan state prosecutors are investigating unidentified guards purportedly shown in a video beating a son of Muammar Gaddafi held in a Tripoli prison, a statement said ...

 Aug 4 2015 - Defending Gaddafi's PMThe Peninsula
(MENAFN - The Peninsula) Members of the committee for the defence of former Libyan strongman Muammar Gaddafi's last prime minister Al Baghdadi Al Mahmudi, English lawyer Karim Khan (right) and French ...

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