A look at top performing Saudi-listed mutual funds with over SAR 100 mln assets in 2021

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Tadawul trading hall


Argaam tracked the performance of 78 out of 254 Saudi mutual funds that invest in local equities and manage assets of over SAR 100 million for the period ending Dec. 31, 2021

Al Rajhi Saudi Equity Fund, managed by Al Rajhi Capital, was the top performer among Saudi Shariah-compliant equity funds, with a return of 48.62% in 2021, compared to S&P Saudi Equity Shariah Index, which rose 37.33%. Tadawul All Share Index (TASI) also leapt 30% during the same period.

SAIB Saudi Companies Fund came second with a return of 46%, followed by HSBC Saudi Companies Equity Fund with 43%.

Fund

Fund Manager

Net Asset Value (SAR mln)

Variation YTD

Al Rajhi Saudi Equity Fund

Al Rajhi Capital

 499.32

+48.62%

SAIB Saudi Companies Fund

Alistithmar Capital

 118.75

+45.96%

HSBC Saudi Companies Equity Fund

HSBC Saudi Arabia

2,037.13

+43.13%

AlAhli Saudi Small and Mid-Cap Equity Fund

SNB Capital

 170.13

+42.66%

Riyad Saudi Equity Sharia Fund

Riyad Capital

 911.08

+41.74%

Al-Rajhi GCC Equity Fund was the top performer in its class for 2021, with a return of 48.87%, while S&P GCC Shariah Index rose by 35.76%.

HSBC GCC Equity Fund came second with a return of 38%, followed by Al Musahem GCC Fund, managed by Saudi National Bank (SNB), with 37%.

Fund

Fund Manager

Net Asset Value (SAR mln)

Variation YTD

Al-Rajhi GCC Equity Fund

Al Rajhi Capital

160.35

+48.87 %

HSBC GCC Equity Fund

HSBC Saudi Arabia

 117.39

+37.93%

Al Musahem GCC Fund

SNB Capital

 113.64

+37.60%

SNB Capital GCC Trading Equity Fund

SNB Capital

351.47

+34.54%

Riyad Gulf Equity Fund

Riyad Capital

226.65

+29.72%

As for the Saudi equity income funds whose assets exceed SAR 100 million, Al Rajhi Saudi Equity Income Fund recorded a return of 34.23% for 2021, against S&P Saudi Equity Shariah Index which rose by 18.89% in the same year.