SNB Capital Al Sunbullah SAR leads money market peers by return

Logo of SNB Capital

In this report, Argaam conducted a survey on mutual funds that invest in money markets, with total assets under management (AUMs) reaching more than SAR 47 billion in November 2023.

The Saudi Exchange has nearly 280 mutual funds, of which 56 invest in the money market.

SNB Capital Al Sunbullah SAR led money market peers with a return of 5.1% during the first 11 months of 2023, compared with a nearly 3.5% average return of peers that have the same investment goals in the Saudi market.

In addition, the fund recorded the highest return of 7.8% compared to the average return of around 5.8% achieved by peers investing in money markets over two years.

The fund also recorded an accumulative return of 12.1% in five years. Further, it has achieved a return of 508% since its establishment in 1986, with an annual average return of 5%.

Return on investment of SAR 10,000

SNB Capital Al Sunbullah SAR is an open-ended fund and aims to achieve development and maintain capital by investing in money markets and Shariah-compliant fixed income instruments. The minimum subscription to the fund is SAR 5,000, and the fund provides the redemption amount within five days from the date of dealing.