{"id":85354,"date":"2024-04-21T00:00:00","date_gmt":"2024-04-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/04\/21\/a-snapshot-of-how-local-investment-funds-fared-in-2023\/"},"modified":"2024-04-21T00:00:00","modified_gmt":"2024-04-21T00:00:00","slug":"a-snapshot-of-how-local-investment-funds-fared-in-2023","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/04\/21\/a-snapshot-of-how-local-investment-funds-fared-in-2023\/","title":{"rendered":"A snapshot of how local investment funds fared in 2023"},"content":{"rendered":"

Total assets under management (AUM) by 291 Local investment funds <\/strong>dipped 2.8% y-o-y to SAR <\/strong>122.6 bn in 2023<\/strong>, according to the latest SAMA data (pdf).<\/a> Domestic assets accounted for 82.5% of that figure. The number of operating funds rose to 291 in 2023, up from 255 in the previous year.<\/p>\n

Domestic shares accounted for 23% of the total AUM, <\/strong>followed by real estate investments (20%), and domestic money market instruments (19%).<\/p>\n

The number of open-ended funds in the Kingdom rose 16% y-o-y to 267 in 2023, with SAR <\/strong>93.3 bn in AUM. <\/strong>Meanwhile, the number of close-ended funds fell 4% y-o-y to 24 over the same period, with SAR 29.3 bn in AUM.<\/p>\n

Open-ended vs. close ended funds: <\/strong>Investors can buy or sell shares of open-ended funds directly from the fund manager at the fund\u2019s net asset value, making them the more liquid type of funds. Meanwhile, in close-ended funds, investors trade shares of the fund on the secondary market at either a premium or a discount to the fund\u2019s net asset value.<\/p>\n","protected":false},"excerpt":{"rendered":"

The number of open-ended funds in the Kingdom rose 16% y-o-y to 267 in 2023<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2727],"tags":[2419,10,207,31],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-85354","post","type-post","status-publish","format-standard","hentry","category-financial-services","tag-capital-markets","tag-enterpriseam-ksa","tag-financial-services","tag-investment-watch","wpautop","entry"],"acf":{"mongo_id":"1f689736-8849-423a-8936-2644c19d0c2b","order":"8","is_powered_by":false,"story_type":"1","photo_url":"","photo_position":"above","homepage_title":"","full_issue_title":"Total AUM by local investment funds fell in 2023, while the number of funds grew","related_issue":[85339],"teaser":"The number of open-ended funds in the Kingdom rose 16% y-o-y to 267 in 2023","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.1ecbd56a-ae3f-4b5b-b9db-49fab4212d34.mp3"},"yoast_head":"\nA snapshot of how local investment funds fared in 2023 - 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