RIYADH: The value of assets held by private funds in Saudi Arabia grew by 30 percent on the year to SR355 billion ($90 billion) in the first quarter of 2022. The number of private investment funds hit 533 by the end of the quarter, recording a 14-percent rise from a year earlier, a report by the Capital Market Authority revealed. This is up from 467 investment funds with a total asset value of SR258 billion in the same quarter a year ago. The increase is mainly attributed to a growth in the value of the funds’ investments in equities, which had the highest share in funds’ assets of 61 percent, or SR206 billion. Real estate funds were next, accounting for nearly 30 percent of private funds’ investments and totaling SR99 billion. According to the report, the number of subscribers in Saudi private funds almost doubled year-on-year, from 4,290 to 8,568, in the first quarter.