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Saudi Exchange limits foreign fund investments
The Saudi Capital Market Authority has issued a circular placing limits on foreign cash fund investments, restricting them to no more than 5% of total net assets. All foreign investments must be made in entities with an investment-grade credit rating. Funds that exceed the 5% foreign investment threshold will be granted up to two years to comply, with a requirement to reduce investments exceeding 20% to below 20% within a period of up to six months. As of the end of the first quarter of the year, cash fund assets in Saudi Arabia reached 82.9 billion riyals, representing a 40% annual increase, while foreign transactions amounted to 16.1 billion riyals, a 64% rise year-over-year. These changes aim to improve the regulation of fund investments and ensure adherence to credit rating standards.
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