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Assets of Saudi Public, Private Investment Funds Amount to $86.1 Bn

Assets of Saudi Public, Private Investment Funds Amount to $86.1 Bn
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Assets of Saudi Public, Private Investment Funds Amount to $86.1 Bn

Assets of Saudi Public, Private Investment Funds Amount to $86.1 Bn

The value of public and private assets of investment funds in Saudi Arabia registered a new leap during Q2 2019, amounting to SAR323 billion ($86.1 billion), compared to SAR310 billion ($82.6 billion) in Q1 of the same year.

According to Saudi Capital Markets Authority (CMA), the value of public and private funds’ assets jumped by 4.1 percent in the Q2 2019 while the value of the private investment funds’ assets grew by 3.5 percent, and the value of public fund assets grew by 5.3 percent.

The value of the assets of private investment funds amounted to SAR196.9 billion ($52.5 billion) at the end of Q2 2019 compared with SAR190.1 billion ($50.6 billion dollars) in the first quarter.

Meanwhile, the value of assets of public investment funds amounted to SAR126.1 billion ($33.6 billion) by the end of Q2 2019 compared with SAR119.7 billion ($31.9 billion) in Q1 2019.

According to the CMA, the investment fund includes a set of securities that are selected according to specific criteria that meet the objectives of the investment funds, including the public and special funds.

Profits of the investment funds come usually from capital gains, which are the profits resulting from the improvement or change in the prices of the securities invested in addition to dividend profits, if any, for securities.

In this context, foreign investments by non-founders in the Saudi stock market rose to 5.1 percent of the total market last week compared to 5.03 percent at the end of the previous week.

This rise is due to net purchases amounting to SAR712.7 million ($190 million) made last week.

Therefore, non-founder foreign investors' ownership in the Saudi stock market has continued to record all-time highs. This ownership includes swap agreements, eligible and residing investors and excludes the founders’ strategic shares.

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Saudi Non-Oil Exports Hit Two-Year High

The King Abdulaziz Port in Dammam, eastern Saudi Arabia. (“Mawani” port authority)
The King Abdulaziz Port in Dammam, eastern Saudi Arabia. (“Mawani” port authority)
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Saudi Non-Oil Exports Hit Two-Year High

The King Abdulaziz Port in Dammam, eastern Saudi Arabia. (“Mawani” port authority)
The King Abdulaziz Port in Dammam, eastern Saudi Arabia. (“Mawani” port authority)

Saudi Arabia’s non-oil exports soared to a two-year high in May, reaching SAR 28.89 billion (USD 7.70 billion), marking an 8.2% year-on-year increase compared to May 2023.

On a monthly basis, non-oil exports surged by 26.93% from April.

This growth contributed to Saudi Arabia’s trade surplus, which recorded a year-on-year increase of 12.8%, reaching SAR 34.5 billion (USD 9.1 billion) in May, following 18 months of decline.

The enhancement of the non-oil private sector remains a key focus for Saudi Arabia as it continues its efforts to diversify its economy and reduce reliance on oil revenues.

In 2023, non-oil activities in Saudi Arabia contributed 50% to the country’s real GDP, the highest level ever recorded, according to the Ministry of Economy and Planning’s analysis of data from the General Authority for Statistics.

Saudi Finance Minister Mohammed Al-Jadaan emphasized at the “Future Investment Initiative” in October that the Kingdom is now prioritizing the development of the non-oil sector over GDP figures, in line with its Vision 2030 economic diversification plan.

A report by Moody’s highlighted Saudi Arabia’s extensive efforts to transform its economic structure, reduce dependency on oil, and boost non-oil sectors such as industry, tourism, and real estate.

The Saudi General Authority for Statistics’ monthly report on international trade noted a 5.8% growth in merchandise exports in May compared to the same period last year, driven by a 4.9% increase in oil exports, which totaled SAR 75.9 billion in May 2024.

The change reflects movements in global oil prices, while production levels remained steady at under 9 million barrels per day since the OPEC+ alliance began a voluntary reduction in crude supply to maintain prices. Production is set to gradually increase starting in early October.

On a monthly basis, merchandise exports rose by 3.3% from April to May, supported by a 26.9% increase in non-oil exports. This rise was bolstered by a surge in re-exports, which reached SAR 10.2 billion, the highest level for this category since 2017.

The share of oil exports in total exports declined to 72.4% in May from 73% in the same month last year.

Moreover, the value of re-exported goods increased by 33.9% during the same period.