Prices increase of 52 investment funds and a retreat of 12
Saudi investment funds saw a difference in the prices of its documents as the prices of 52 investment funds saw an increase while a decline by other 12, according to a report issued by" Mubasher". Arabian Fund for European shares headed the gainers with a rise of 3.66 percent; pushing the document prices to 12.4885 dollars on July 24,2010,while the Arabian Fund for Asian shares increased by 2.77 percent.
Furthermore;Morgan Stanley for Saudi Equity ranked fifth with a rate of 2.27 percent. On the other hand 12 investment funds saw a decline in their performance; As Falcom Petrochemical was down mostly by 0.71 percent to close the document price at 20.85 riyals on July 25, 2010.
Aqaar Investment belonging to Al Bilad ranked fifth among decliners by 0.273 percent. If we divided the funds in accordance to the managing companies that belong to each fund, we will find a rise in the prices of these documents 100 % as "Global Funds", "Rana", "Morgan" and "Al Watan",also "Al Jazeerah funds" increased by 80 percent and 77.78 along with" ANB funds".
Al Holandi Fund and Gulf Invest saw an increase of 66.67 percent during the period, while prices of 50 documents of "Al Mustathmer" and "Bakhit Fund" have increased, While funds of "Al Bilad" saw an increase in its performance up to 40 percent. Al Rajhi Fund documents rose by 35.71 % and 33.33% of "Oudah Funds", while "Al Ahli" funds achieved a growth rate up to 15.38 percent.
Prices of "Jadwa" funds rose by 14.29 percent while "Al Bilad" saw a decline by 20 % during that period, HSBC and achieved 5.56 % while of the "ANB" declined in the prices of its documents.