The Norwegian sovereign fund, the largest sovereign fund in the world, invested $ 194 million (729 million riyals) in 24 Saudi companies by the end of last year 2020.
According to the monitoring unit of the reports in Al-Eqtisadiah newspaper, based on the fund’s data, the National Commercial Bank and Samba, the largest Saudi companies or banks, in which the Norwegian sovereign fund invests in by the end of 2020 in terms of market value, is issued with a value of 120 million riyals. And 71.8 million riyals (0.12 percent of Samba), respectively.
They were followed by Al-Rajhi Bank and Bank Al-Jazira with a value of 62.2 million riyals (0.03 percent of the bank) and 56.1 million riyals (0.5 percent of the bank), respectively.
Behind them came the “Seera” company with a value of 50.6 million riyals (0.89 percent of the company), and the Leejam company (fitness time) with 50.5 million riyals (1.25 percent of the company).
According to the largest shares, Malath Company topped with 1.9 percent ownership, Leejam Company with 1.25 percent ownership, then Walaa Company with 1.23 percent ownership, and Al Hammadi Company with 1.04 percent ownership.
The fund’s investments amounted to $ 415.5 million (1.56 billion riyals) in 37 Saudi companies by the end of 2019, which means a 53 percent decline last year.
In 2018, the fund’s investments in the Saudi stock market amounted to about 3.9 billion riyals distributed among 44 companies, compared to 3.1 billion riyals distributed among 42 companies in 2017.
According to the fund’s annual report, the fund achieved a return on investment of 10.9 percent in 2020, or the equivalent of 1.07 trillion Norwegian kroner ($ 122.7 billion) despite the Corona pandemic, and 72.8 percent of the fund’s portfolio is invested in stocks, which have benefited greatly from Marathon heights in 2020.
The fund owns stakes in 9,200 companies and owns the equivalent of 1.5 per cent of global market capitalization.
“Technology companies recorded the highest return in 2020, with gains of 41.9 percent,” said fund manager Nikolai Tangen.
Economic Reports Unit