Credit Suisse sees gradual pickup in fund flows in Saudi | GulfNews.com

Credit Suisse sees gradual pickup in fund flows in Saudi | GulfNews.com:



"Amid an initial euphoria due to opening of Saudi markets, Credit Suisse expects fund flows to pick up gradually until it gets reclassified by the global index providers, even as the firm plans to increase its staff, a senior official at Credit Suisse Saudi Arabia told Gulf News.



Saudi opens its $550 billion (Dh2 trillion) equities market on Monday, equivalent to the size of Russia and Poland, to foreigners, but analysts say international investors are not in a mood to buy stocks due to its expensive valuations.



“There won’t be any major fund flow at the beginning of the opening up. We would gradually see a pick- up in direct investments from the QFIs. Most of the clients will continue to access the Saudi markets through P-notes and swaps until they clearly understand the mechanism of how the market works,” Abdul Aziz Bin Hassan, Managing Director and Chief Executive Officer of Credit Suisse Saudi Arabia told Gulf News over the phone."



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