Which are best-performing Shariah investment funds with over SAR 100 mln AUMs in Q1 2022?

In this report, Argaam monitors the performance of 28 out of nearly 253 Shariah-compliant investment funds, which invest in Saudi stocks and have assets under management (AUMs) of more than SAR 100 million in Q1 2022. All Saudi equity funds demonstrated positive performance in the three-month period.

Al Ataa Saudi Equity Fund, which is managed by SNB Capital, was the best performer with a return of 26.7%. The fund aims to achieve long-term capital growth with the distribution of semi-annual profits through investing in shares of Saudi companies listed on the main and parallel markets in line with Shariah, and in money market instruments as well as real estate investment traded funds (REITs).

SNB Capital Freestyle Saudi Equity Fund took the second place second, with a return of 25.6%. The fund, managed by SNB Capital, aims to achieve long term capital growth through investing primarily in Shariah-compliant Saudi listed companies, including public offerings, rights issues and exchange traded funds (ETFs).

The study covered 28 out of nearly 253 Sharia-compliant investment funds, based on closing prices on March 31, 2022.

Tadawul All-Share Index (TASI) jumped nearly 16% in the first quarter of the year.