AlKhair Capital ranks amongst the highest in KSA
AlKhair Capital, the leading Saudi-based investment institution, ranked 6th amongst the highest growing mutual funds in Saudi Arabia for 2014. AlKhair’s Equity Fund was valued at 46.62 with a +12 per cent percentage change.
This is a great accomplishment for Alkhair as it comes during a time when markets are highly competitive.
The Saudi markets witnessed drastic ups and downs towards the end of 2014, as regional equity markets were not spared from the turbulence towards the last few months of the year, where TASI index reached the highest level on September 09, 2014 (11,149.36) carrying on total return of (30.62 per cent) while TASI index was closed (8,535.60) on the end of 2014 with losses of (-2.37 per cent).
The Saudi stock market has quickly evolved into the largest in the Arab world, with estimated capitalization of over $570bn. This turned the competitiveness in the market up a notch. Even oil prices fluctuated, month-on-month. All sectors saw negative performances in November as investor selling was felt across most of the market due to negative sentiments over declining oil prices. Amidst all this, AlKhair Capital powered through and the results are out for everyone to see.
Argaam carried out this survey, which is one of the region’s leading financial portals. The results have also revealed a prominent increase of the mutual funds’ net profit invested in the local stock, which managed to reach SR23.66bn. This reflects an increase of 11 per cent over the previous year, as this year’s mutual funds numbers rose by 12 to reach 72 by the end of 2014. The percentage of the assets of these funds for the Saudi market by the end of 2014 was about 1.31 per cent, compared to last 1.22 per cent in 2013.
Performance indicators for brokerage firms, Saudi Arabia’s stock exchange have also shown great ranks for AlKhair, as its value of trade amounted SR 12,919,368,788.50 where AlKhair ranked the 21place in term of trade value.
“We’re really proud of the rankings and this wouldn’t have been possible without the dedication of our entire team”, said Mr. Khalid Al Mulhim, Chief Executive Officer, AlKhair Capital. “We’re looking forward to an even more fruitful 2015 and the markets are already starting to look better,” he added.