Franklin Templeton funds get QFI status in Saudi Arabia | Reuters

Franklin Templeton funds get QFI status in Saudi Arabia | Reuters:

"Franklin Templeton funds have become qualified foreign investors (QFI) in Saudi Arabia, which will allow them to invest directly in Riyadh’s stock market, the U.S. fund manager said on Monday.

The approval comes as Saudi Arabia implements a far reaching economic transformation program aimed at stimulating growth and employment, it said in a statement.

In March global index compiler FTSE Russell decided to upgrade Saudi Arabia to emerging market status, and MSCI is widely expected to make a similar decision in June."



'via Blog this'