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Saudi Public Investment Fund increases investments in US and European stocks by 79.5%

Saudi Public Investment Fund increases investments in US and European stocks by 79.5%

Saudi Arabia’s public investment funds increased their assets in the US and European stock markets by 79.5 percent on an annual basis by the end of the second quarter of 2021.

At the end of the second quarter of this year 2021, total assets of public funds invested in the American and European stock markets totaled over 2.33 billion riyals, compared to 1.29 billion riyals at the same time last year, a difference of 1.03 billion riyals.

According to Al-Eqtisadiah newspaper, their assets in the American and European markets reached their greatest level in five years, namely since mid-2016, coinciding with record levels in particular for the American markets.

Those assets recorded growth for the fifth consecutive quarter, growing by 18.3%, compared to the first quarter of the same year, when assets at that time amounted to about 1.97 billion riyals.

The volume of assets of public funds invested in foreign markets amounted to about seven billion riyals, compared to about 4.66 billion riyals for the same period of the previous year, an increase of 50%.

Public funds’ investments in Gulf stocks come in second place after the American and European, as they constitute about 27.8% of the volume of foreign assets.

The number of public funds invested in the American and European market amounted to about seven, out of 54 funds approved by the Capital Market Authority that invest their assets through foreign markets.

The number of subscribers reached 912, compared to 541 during the same period last year.

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