Riyadh – Sharikat Mubasher: The value of assets in Public Investment Fund (PIF)—both domestic and foreign—in the Saudi financial market saw an annual increase of 37%, rising by approximately SAR 43 billion by the end of the third quarter (Q3) of 2024.

 This brought the total value to SAR 160.087 billion, compared to SAR 117.117 billion in the same period of 2023, according to the Saudi Press Agency.

On a quarterly basis, the asset value grew by 10.4%, reflecting an increase of around SAR 15.120 billion, up from SAR 144.967 billion at the end of the second quarter (Q2) of 2024, according to data from the Capital Market Authority's quarterly statistical bulletin.

Subscriptions increased by 51%, or about 528,000 subscribers, reaching a total of 1,570,452 by the end of Q3 2024, compared to 1,042,484 subscribers at the same point in 2023.

This growth was fueled by a rise in domestic investment assets, which grew by 42% year-on-year, increasing by SAR 39.598 billion to reach approximately SAR 134.431 billion. These domestic assets account for 84% of the total asset value. Meanwhile, foreign investment assets grew by 15.1%, increasing by more than SAR 3 billion to reach SAR 25.656 billion, representing 16% of the total asset value.

The number of public investment funds grew by 10% annually, with an increase of 27 funds, bringing the total to 310 funds.

These public investment fund assets were distributed across 14 different investment types. The highest value was seen in money market fund assets, totaling SAR 44.868 billion, which accounted for 28% of the total assets. Equity fund assets followed, valued at SAR 34.767 billion, representing 27.3% of the total assets. Real estate investment fund assets came in third, amounting to SAR 29.263 billion and accounting for 18.3% of total assets. Debt instrument fund assets ranked fourth, valued at SAR 22.236 billion, making up 14% of the total assets.