Saudi investment funds see largest fall in 16 years

Follow-ups -eshrag News:

Sun, 2022-09-04 00:04

The total assets of Saudi Arabia’s investment funds dropped by SR23.2 billion ($6.2 billion) in the second quarter of 2022, according to data from the Saudi Central Bank, also known as SAMA.

This drop recorded the steepest fall the Kingdom has seen since the second quarter of 2006, when the decrease in total fund assets amounted to SR30 billion.

While the 2006 downturn was predominantly driven by the SR28.8 billion drop in the country’s domestic shares, this year’s tumble was due to a more general decrease in an array of asset types.

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