SAUDI ARABIA: A total of 46 new Shariah compliant funds were launched in 2024 for Saudi Arabia with 16 during the first quarter, seven in Q2 2024, 11 in Q3 2024 and 12 in the final quarter. Total valuation of these 46 funds was US$5.68 billion on the 31st December 2024. The 12 new funds in Q4 2024 were valued at US$1.81 billion as at the end of the year, comprising 31.9% of the new funds’ valuation total. Among these new funds, the SEDCO Capital IPO Fund – launched on the 26th August 2024 – stood out as the top performer, recording a three-month return of 7.65% in 2024.
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