Higher Education Fund Achieves 8% Growth in Managed Assets in 2023

The Higher Education Fund achieved several milestones in 2023, notably its stable investment performance across various sectors, with promising growth rates. The fund recorded an 8% growth in managed assets compared to 2022. The fund also achieved a total investment return of 9.93% on its portfolio, generating net profits of SAR394 million, the highest since its establishment, representing a growth of 261% compared with the 2022 fiscal year. According to the fund's performance report for the 2023 fiscal year, the fund financed 29 university projects. Since its inception, the fund has financed 618 university projects at a cost exceeding SAR3 billion. These projects covered all academic and scientific programs for all universities, enhancing efficiency and boosting their global rankings. The Shura Council, during its session Monday, reviewed the Higher Education Fund's annual report for the 1444/1445 AH fiscal year. Secretary-General of the Higher Education Fund Dr. Turki Al-Zumai attended as a guest. Sourc e: Saudi Press Agency