Saudi Gazette - Portfolio chiefs to inject more funds into KSA:
"Fund managers in the Middle East are set to pump more money into Saudi Arabia over coming months but may withdraw some funds from Dubai because of concern its red-hot market has risen too fast, a Reuters survey showed.
The survey of 16 leading Middle East-based investment institutions, the first of its kind in the region, was conducted over the past 10 days by Trading Middle East, a Reuters forum for market professionals. The survey was launched in September and will be published monthly. Half of the institutions said they expected to increase their overall equity allocations to the Middle East over the next three months, while only 13 percent said they would decrease them.
Fund managers cited strong economic growth in the Gulf, which is being aided by high oil prices and consumer spending booms in many countries, as well as young and growing populations across the Middle East. For many managers, these factors outweigh jitters over geopolitical threats such as the civil war in Syria. Saudi Arabia's stock market, where the main index has risen 17 percent this year, lagging several other Gulf bourses, looks set to be the main beneficiary of this optimism in coming months."
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