Middle-east Arab News Opinion | Asharq Al-awsat

Maaden, Safco again Among Saudi Pension Fund's Picks - ASHARQ AL-AWSAT English Archive
Select Page

RIYADH, (Reuters) – The General Organisation for Social Insurance (GOSI), Saudi Arabia’s largest pension fund, has raised stakes in six listed firms, including five it picked in a similar move in July.

Data from the stock exchange website showed that state-owned GOSI increased its stake in Maaden to 7.2 percent from 6.3 percent, in Saudi Fertilizers Co to 14.5 percent from 14.2 percent and in Savola Group 2050.SE to 10.3 percent from 9.8 percent.

Other increases included Southern Province Cement 3050.SE to 13.6 percent from 13.1 percent, Qassim Cement 3040.SE to 18.6 percent from 17.5 percent and property developer Jabal Omar Development Co 4250.SE to 5.7 percent from 5 percent previously, the data showed.

The data does not show the price GOSI paid for the stocks.

Based on Sunday’s closing stock prices, the value of the stake increases in the six firms was 465.7 million riyals ($124.2 million), according to Reuters’ calculations.

Because of their sophistication, stock picks by institutional investors such as GOSI offer an insight on their investment strategies, which can be instrumental for retail brokerage and individual investors.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

More Posts

Follow Me:
FacebookGoogle PlusYouTube