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The assets value of investment funds in local money markets in Saudi Arabia rose to an all-time high of 59.26 billion riyals at the end of the second quarter of 2018.
According to Saudi Arabian Monetary Agency (SAMA) data, fund assets have continued to rise since early 2017, driven by higher interest rates as well as lower risks. The assets value of the local funds amounted to about 59.26 billion riyals at the end of the second quarter of the current year 2018, while the assets value of funds from Foreign Exchange instruments at the end of the period amounted to about 8.56 billion riyals.
During the second quarter of this year, local funds grew by 4.5% year-on-year, reaching SR56.7 billion, a 2.55 billion riyals difference compared to the previous quarter, where the assets value of the local funds grew by 5% equivalent to SR 2.83 billion, recording 56.42 billion riyals at the end of the first quarter.
Fund investments are spread across four main investment fields: Real estate, cash and equity instruments, bonds and instruments.
Source: (Arabiya.net, Edited)