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Saudi Arabia : GLOBAL SAUDI EQUITY FUND increased interest in the SAUDI equity market

June 19, 2014

The Global Saudi Equity Fund consistently outperformed its benchmark and peers, with stock selection being the main driver. The fund achieved 144.9% return compared to the benchmark return of 105.1%, outperforming the benchmark by more than 39.8%.

The fund is the second largest Saudi conventional equity fund and the largest equity fund in the Saudi market managed by a non-bank owned investment company with total assets under management exceeding $170 million.

Al-Noor fund is the best performing Saudi fund investing in Shari ah-compliant equities. The fund achieved 172.4% return compared to 131.8%.

The Saudi equity market had a strong performance in 2014 with growth concentrated in the local economy stocks that rely on the local demand in the Kingdom. The clarity of growth in the global economy has been weak; however oil prices continue to be at elevated levels which continues to support the growth for the Saudi economy. This strong economic growth is supporting the companies that serve the local economy and that have limited reliance on international demand.

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Source: TendersInfo (India)

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