Exclusive: Franklin Templeton may double its Saudi equities portfolio - The National:
"Franklin Templeton investments, a global fund management firm, may increase its Saudi Arabian equities exposure to as much as US$1.16 billion, about 4 per cent of its $29bn global emerging markets portfolio, as the biggest Arab economy continues to liberalise its capital market. “We are now at about 1 or 2 per cent of our total global portfolios in Saudi and we can easily increase it to 3 or 4 per cent,” Mark Mobius, the executive chairman of Templeton Emerging Markets Group said in Dubai yesterday. “We can easily double that under the right conditions. There’s a good chance we will do something more there.” The Capital Market Authority, overseer of the Saudi Stock Exchange (Tadawul), which has more than $450bn in market capitalisation, is liberalising the equities market and introducing structural and regulatory reforms such as changes in the settlement procedures and relaxing restrictions on foreign qualified investors."
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