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A look at Saudi Pension Agency's investments in 2019
The Saudi Public Pension Agency (PPA) has issued its annual investment report for 2019, which showed the distribution of its investments locally and internationally.
Investments in developed markets stocks accounted for the highest 24.8% of total investments, followed by Saudi stocks with 20%.
PPA stated that the rate of return on its investments reached 12% during 2019.
PPA manages its investments through long-term policies, which contributes to achieving meaningful returns on investment within acceptable levels of risk and preserving the real value of assets and developing them.
Among the most important investment policies; the policy of distributing assets between diverse investment tools, geographical regions, and currencies in a manner that reduces the overall risks of its investment portfolio.
PPA focuses on local investments as much as possible, it noted.
The Saudi agency adopts conservative investment policies with calculated risks, and does not invest in prohibited activities.
It also takes into account that there is sufficient liquidity to meet all obligations when due, and to finance promising investment opportunities.
On a regular basis, PPA prepares a study of the strategic distribution of assets, in order to keep pace with investment developments in the financial markets and future expectations, and to achieve the best returns within an appropriate level of risk.
This study determines the target weights of asset classes, and the extent of investment vehicles’ diversity.
|
PPA’s Investments by Sector |
|||
|
Investment Type |
2018 |
2019 |
Variation % |
|
Developed markets stocks |
20.9% |
24.8% |
+3.9% |
|
Saudi stocks |
22.6% |
20.0% |
(2.6%) |
|
Arabian Gulf Bonds |
14.4% |
14.3% |
(0.1%) |
|
Money market instruments |
11.0% |
10.0% |
(1.0%) |
|
Local real estate and infrastructure |
6.7% |
6.2% |
(0.5%) |
|
Miscellaneous strategic investments |
7.8% |
5.9% |
(1.9%) |
|
Emerging market bonds |
4.2% |
4.4% |
+0.2% |
|
Emerging market stocks |
2.9% |
4.3% |
+1.4% |
|
International bonds |
5.6% |
4.2% |
(1.4%) |
|
US bonds |
1.4% |
3.1% |
+1.7% |
|
Private Equity |
2.1% |
2.5% |
+0.4% |
|
International real estate and infrastructure |
0.4% |
0.4% |
-- |
Last year, PPA had invested in 67 Tadawul-listed firms, three real estate funds and 19 unlisted companies.
In May 2019, the agency transferred shares from its investment portfolio to its investment arm Al Ra’idah Investment Co. in order to maximize its return on investments.
The move didn’t mean PPA was selling its assets, it said, adding that it’s only enabling Al Ra’idah to sufficiently manage the investments.
PPA invested in 3 new listed firms distributed across 3 sectors, and one unlisted firm during the past year.
|
PPA’s Investments by Sector & Company |
||||||
|
Sector |
|
Company |
Stake % at 2018 end |
Stake % at 2019 end |
Variation(%) |
|
|
Banks |
1 |
SAIB |
17.66% |
18.57% |
+0.91% |
|
|
2 |
Samba |
15.33% |
14.95% |
(0.38%) |
||
|
3 |
NCB |
10.26% |
8.64% |
(1.62%) |
||
|
4 |
Riyad |
9.27% |
7.20% |
(2.07%) |
||
|
5 |
Alinma |
10.71% |
5.81% |
(4.90%) |
||
|
6 |
Al Rajhi |
3.91% |
3.85% |
(0.06%) |
||
|
7 |
BSF |
2.47% |
2.85% |
+0.38% |
||
|
8 |
SABB* |
1.35% |
1.26% |
(0.09 %) |
||
|
9 |
ANB |
0.42% |
0.51% |
+0.09% |
||
|
10 |
Aljazira |
0.74% |
0.25% |
(0.49 %) |
||
|
Capital goods |
11 |
SVCP |
3.26% |
8.07% |
+4.81% |
|
|
12 |
Saudi Ceramics |
3.65% |
6.77% |
+3.12% |
||
|
Telecommunication |
13 |
STC |
6.77% |
5.57% |
(1.20%) |
|
|
14 |
Etihad Etisalat |
4.94% |
4.27% |
(0.67%) |
||
|
Real Estate Management & Development |
15 |
Derayah REIT |
2.47% |
4.30% |
+1.83% |
|
|
16 |
Taleem REIT |
2.46% |
4.15% |
+1.69% |
||
|
17 |
Jadwa REIT Al Haramain |
0.34% |
0.34% |
-- |
||
|
Real Estate |
18 |
Arriyadh Development |
4.67% |
8.37% |
+3.70% |
|
|
19 |
Makkah Construction |
7.44% |
7.44% |
-- |
||
|
20 |
Al-Akaria |
5.92% |
5.92% |
-- |
||
|
21 |
Taiba |
4.00% |
4.54% |
+0.54% |
||
|
22 |
Jabal Omar |
3.51% |
3.16% |
(0.35%) |
||
|
23 |
Alandalus Property |
0.10% |
0.97% |
+0.87% |
||
|
Materials |
24 |
Petrochem |
17.11% |
17.74% |
+0.63% |
|
|
25 |
SIIG |
12.05% |
13.24% |
+1.19 % |
||
|
26 |
Eastern Cement |
10.66% |
10.66% |
-- |
||
|
27 |
BCI |
4.22% |
9.18% |
+4.96 % |
||
|
28 |
SAFCO |
6.87% |
7.55% |
+0.68% |
||
|
29 |
Sipchem** |
6.65% |
7.20% |
+0.55% |
||
|
30 |
Yamama Cement |
6.88% |
6.88% |
-- |
||
|
31 |
Qassim Cement |
6.56% |
6.19% |
(0.37%) |
||
|
32 |
Saudi Cement |
6.11% |
6.11% |
-- |
||
|
33 |
Aslak |
2.60% |
6.03% |
+3.43% |
||
|
34 |
Zamil Industrial |
5.00% |
5.29% |
+0.29% |
||
|
35 |
Arabian Cement |
5.27% |
5.27% |
-- |
||
|
36 |
Southern Cement |
4.60% |
4.59% |
(0.01%) |
||
|
37 |
Tasnee |
4.21% |
4.21% |
-- |
||
|
38 |
SABIC |
3.38% |
3.38% |
-- |
||
|
39 |
Yansab |
2.12% |
2.55% |
+0.43% |
||
|
40 |
Tabuk Cement |
5.00% |
2.40% |
(2.60%) |
||
|
41 |
Yanbu Cement |
1.70% |
1.70% |
-- |
||
|
42 |
Advanced |
1.50% |
1.50% |
-- |
||
|
43 |
City Cement |
0.81% |
0.81% |
-- |
||
|
Energy |
|
44 |
PetroRabigh |
3.28% |
0.38 % |
(2.90%) |
|
Retailing |
45 |
SASCO |
2.53% |
2.53% |
-- |
|
|
46 |
Jarir |
0.48% |
0.48% |
-- |
||
|
Utilities |
47 |
GASCO |
2.57% |
4.38% |
+1.81% |
|
|
Insurance |
48 |
Tawuniya |
23.79% |
21.81% |
(1.98%) |
|
|
49 |
Arabian Shield |
3.01% |
4.65% |
+1.64% |
||
|
50 |
Walaa Insurance |
3.66% |
3.66% |
-- |
||
|
51 |
Bupa Arabia |
0.34% |
0.34% |
-- |
||
|
Healthcare |
52 |
Saudi German Hospital |
1.13% |
1.13% |
-- |
|
|
53 |
Mouwasat |
0.58% |
0.58% |
-- |
||
|
Pharmaceuticals |
54 |
SPIMACO |
13.06% |
13.06% |
-- |
|
|
Consumer Durables & Apparel |
55 |
Thob Al-Aseel |
0.41% |
1.18% |
+0.77% |
|
|
Consumer Services |
56 |
Seera |
1.74% |
3.17% |
+1.43% |
|
|
57 |
Dur |
1.74% |
1.74% |
-- |
||
|
58 |
Herfy Foods |
0.61% |
0.61% |
-- |
||
|
Diversified Financials |
59 |
Kingdom Holding |
0.56% |
0.15% |
(0.41%) |
|
|
Food Retailing |
60 |
Al Othaim |
0.84% |
0.84% |
-- |
|
|
Food Production |
61 |
TADCO |
4.29% |
9.23% |
+4.94% |
|
|
62 |
Savola |
1.89% |
2.31% |
+0.42% |
||
|
63 |
SADAFCO |
1.96% |
1.96% |
-- |
||
|
64 |
Almarai |
0.37% |
0.37% |
-- |
||
|
Unlisted Companies |
65 |
Al Ra’idah Investment |
100.00% |
100.00% |
-- |
|
|
66 |
Cooperative Real Estate Investment Company (CREIC) |
50.00% |
50.00% |
-- |
||
|
67 |
Mina Real Estate |
50.00% |
50.00% |
-- |
||
|
68 |
The Tadawul Real Estate |
40.00% |
40.00% |
-- |
||
|
69 |
Raysan Arabian Real Estate Development |
32.57% |
32.57% |
-- |
||
|
70 |
Dar Al Tamleek |
42.00% |
27.90% |
(14.10%) |
||
|
71 |
Al Safwah Cement |
25.00% |
25.00% |
-- |
||
|
72 |
International Diol Co. |
19.13% |
19.13% |
-- |
||
|
73 |
Umm Al Qura Development & Construction |
17.20% |
17.20% |
-- |
||
|
74 |
Riyadh Holding Co. |
16.67% |
16.67% |
-- |
||
|
75 |
Jubail United Petrochemical |
15.00% |
15.00% |
-- |
||
|
76 |
Ewaan Real Estate |
12.50% |
12.50% |
-- |
||
|
77 |
Al Asyah |
10.00% |
10.00% |
-- |
||
|
78 |
Al Aqeer Development |
7.38% |
7.38% |
-- |
||
|
79 |
Integrated Telecom |
5.00% |
5.00% |
-- |
||
|
80 |
ACWA Power |
4.81% |
4.81% |
-- |
||
|
81 |
National Co. for Tourism |
2.84% |
2.84% |
-- |
||
|
82 |
Saudi Industries Development (Tatweer) |
1.50% |
1.50% |
-- |
||
*Merged with Alawwal Bank in 2019
**Merged with Sipchem in 2019
Meanwhile, it exited 30 companies listed in the Saudi market distributed in several sectors.
|
PPA’s New Investments in 2019 |
||
|
Sector |
Company |
ratio (%) |
|
Unlisted Companies |
Asma Capital |
20.00% |
|
Consumer Services |
Ataa Educational |
6.08% |
|
Retailing |
Baazeem |
1.92% |
|
Energy |
Aramco |
0.05% |
|
PPA’s Divestments 2019 |
||
|
Sector |
Company |
Stake % |
|
Banks |
Albilad |
0.07% |
|
Capital Goods |
Al Babtain |
1.77% |
|
Astra |
0.34% |
|
|
Real Estate Management & Development |
Emaar EC |
2.67% |
|
KEC |
0.63% |
|
|
Materials |
Arabian Pipes |
1.11% |
|
Alujain |
0.78% |
|
|
Maaden |
0.41% |
|
|
SPM |
0.12% |
|
|
Saudi Kayan |
0.10% |
|
|
Energy |
Bahri |
3.74% |
|
Retailing |
SASCO |
3.24% |
|
Aldrees |
1.52% |
|
|
Alhokair |
0.08% |
|
|
Utilities |
Saudi Electricity |
0.76% |
|
Insurance |
Malath Insurance |
1.36% |
|
Healthcare |
Care |
2.50% |
|
Dallah Healthcare |
2.49% |
|
|
Al Hammadi |
0.37% |
|
|
Consumer Durables & Apparel |
Lazurde |
1.11% |
|
Media |
SRMG |
4.39% |
|
Consumer Services |
Alhokair Group |
3.61% |
|
Al Khaleej Training |
2.50% |
|
|
Diversified Financials |
Aseer |
2.10% |
|
Food Production |
TADCO |
2.50% |
|
Transport |
BATIC |
4.42% |
|
SISCO |
3.77% |
|
|
SAPTCO |
0.94% |
|
|
SGS |
0.85% |
|
|
Commercial & Professional Services |
Catering |
0.80% |
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