RIYADH: The number of portfolios under management in Saudi Arabia increased at a record rate of about 680 percent in the third quarter of the current year, according to the Capital Market Authority.
In its quarterly bulletin issued on Wednesday, the authority revealed that the asset value of the portfolios grew at around 10 percent to reach SR235.72 billion ($62.7 billion) in the third quarter of 2022 as compared to SR213.91 billion in the same period of 2021.
Data showed that the local equity represented about 53 percent of the total assets of portfolios under management reaching SR125.4 billion in Q3. The share of investment funds was recorded at 23 percent of the total assets of the portfolios under management with an increase of 18 percent reaching SR53.7 billion compared to SR45.4 billion in Q3 of 2021.
The number of listed companies on Tadawul, Saudi Arabia’s main stock market, increased by 6 percent to reach 217 as compared to 205 in the same period last year. The parallel market Nomu witnessed a 217 percent increase in the number of companies with 38 firms as compared to 12 in the same period last year.
The CMA approved the offering of about three companies in the main market and five companies in Nomu during Q3 of the current year. Nine offers and listing requests in the main market and 61 in Nomu are under study.
According to the data, the value of qualified foreign investors’ ownership surged by 19 percent to hit SR280 billion in Q3 compared to SR235.7 billion in the same period of 2021.
The value of the institutional investors’ ownership amounted to 96.27 percent in Q3 of 2022. The number of investment funds increased to 890 funds, the highest in history. The number of public funds and private funds was recorded at 253 and 637 respectively.
The number of public and private investment funds’ subscribers reached 677,447 in Q3 of 2022 as compared to 453,141 in the same period last year.
The biggest number of public and private investment funds’ subscribers were in the operating funds in the real estate sector.
The bulletin stated that the number of authorized fintech in the Equity Crowd Funding platforms amounted to 9 companies in Q3 of 2022, and the combined funds of crowdfunding companies reached SR20 million.
