New Saudi Arabia ETF Emerges - Bloomberg

New Saudi Arabia ETF Emerges - Bloomberg:

Saudi Arabia’s addition to indexer MSCI Inc.’s group of emerging markets starting in June 2019 is expected to lure $40 billion in foreign investment to country. Now, U.S. investment firms are looking to get in on the action. Franklin Templeton Investments, a long-time active asset manager, is seeking approval for a Saudi Arabia ETF, according to a filing with the U.S. Securities and Exchange Commission on Friday. Currently, there’s only one such fund, the iShares MSCI Saudi Arabia ETF, or KSA. It has $269 million in assets, a figure that’s ballooned by as much as 1,700 percent this year, the most among all single-country funds. This comes at a time when investors are pulling billions from broad emerging market funds and investing in single-country ETFs.