Mobius Not Convinced by Saudi Stocks Set for Status Upgrade - Bloomberg:
"As Saudi Arabia stands poised to win emerging-market status, one of the best-known developing-nation investors says he isn’t completely convinced the kingdom’s stocks are a good option.
During his 40 years working in emerging markets, Mark Mobius has gained a reputation for being optimistic more often than not on their prospects. He recently sounded less upbeat and his views aren’t positive on the biggest stock exchange in the Middle East. The kingdom is expected to earn emerging-market status from index compiler MSCI Inc. next week, three years after it opened its equity markets directly to foreigners.
“We are not necessarily bullish on Saudi stocks, simply because the range of offerings is limited and a number of restrictions are still in place,” said Mobius, 81, who recently set up Mobius Capital Partners LLP after three decades at Franklin Templeton Investments. “Many difficulties remain for Saudi market entry.”
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