Mideast funds bullish on Kingdom, bearish on UAE | Arab News — Saudi Arabia News, Middle East News, Opinion, Economy and more.:
"Middle East funds are heavily bullish toward Saudi Arabian stocks after news the market will open to direct foreign investment, while they are bearish on the United Arab Emirates because of concern about high valuations.
The latest Reuters survey of 15 leading investment managers, conducted over the past 10 days, showed two-thirds expected to raise their equity allocations to Saudi Arabia in the next three months, up from 40 percent in the last survey a month ago. The ratio of bullish managers was the highest since September 2013.
“The opening of the Saudi market is definitely a huge positive and should attract a lot of active money,” said Naveed Ahmed, senior portfolio manager at Securities and Investment Co. of Bahrain."
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