AlKhair Capital, a leading Saudi Arabia-based investment institution, has been ranked sixth among the highest growing mutual funds in Saudi Arabia last year.

AlKhair’s Equity Fund was valued at 46.62 with more than 12 per cent percentage change, said a statement.

The Saudi Arabian markets witnessed drastic ups and downs towards the end of last year, as regional equity markets were not spared from the turbulence towards the last few months of the year.

The stock market has quickly evolved into the largest in the Arab world, with estimated capitaliSation of more than $570 billion. This turned the competitiveness in the market up a notch. Even oil prices fluctuated, month-on-month.

All sectors saw negative performances in November as investor selling was felt across most of the market due to negative sentiments over declining oil prices. Amid all this, AlKhair Capital powered through and the results are out for everyone to see.
    
The results of the survey, which was carried out by Argaam, a leading financial portal, has also revealed a prominent increase of the mutual funds’ net profit invested in the local stock, which managed to reach SR23.66 billion ($6.3 billion).

This reflected an increase of 11 per cent over the previous year, as this year’s mutual funds numbers rose by 12 to reach 72 by the end of 2014.

The percentage of the assets of these funds for the Saudi market by the end of 2014 was about 1.31 per cent, compared to last 1.22 per cent in 2013.

Performance indicators for brokerage firms, Saudi Arabia’s stock exchange have also shown great ranks for AlKhair, as its value of trade amounted SR 12.9 billion where AlKhair ranked the 21place in term of trade value.

Khalid Al Mulhim, chief executive officer, AlKhair Capital, said: “We’re really proud of the rankings and this wouldn’t have been possible without the dedication of our entire team. We’re looking forward to an even more fruitful 2015 and the markets are already starting to look better.” - TradeArabia News Service