Middle East funds turn negative as oil drops again | Reuters

Middle East funds turn negative as oil drops again | Reuters:



"Middle East fund managers have on
balance turned negative towards the region and especially its
biggest equity market, Saudi Arabia, after oil prices gave up
most of the gains made in the last six months, a monthly Reuters
survey shows.



The survey of 15 leading investment firms, conducted over
the past three days, shows only 13 percent expect to raise their
equity allocations to the Middle East in the next three months,
while 20 percent expect to reduce them.



Last month, fund managers were neutral on balance towards
regional equities, with 7 percent intending to increase equity
allocations and the same number expecting to cut them."



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