Saudi Stock Exchange caps foreign fund investments at 5%
The Saudi Capital Market Authority has issued a circular limiting foreign cash market fund investments to no more than 5% of their net assets. All foreign investments must be with counterparties rated at an investment-grade credit rating. There are currently 52 funds managing assets valued at 82.9 billion riyals as of the end of the first quarter of the year, with foreign fund investments increasing by 64% to approximately 16.1 billion riyals. Funds whose foreign investment ratio exceeds 20% are granted a six-month period to reduce it below 20%, and all funds are required to comply with this cap within two years of the circular's issuance.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)