Saudi Pension Fund to Invest SR9.6 Billion Abroad
Riyadh, Asharq Al-Awsat- A Saudi pension fund plans to invest an estimated SR9.6 billion ($2.56 billion) in premium bonds and stocks abroad, the firm said in a report published yesterday. The General Retirement Foundation has SR26 billion, or 73 percent of its assets, invested in local stock market
Riyadh, Asharq Al-Awsat- A Saudi pension fund plans to invest an estimated SR9.6 billion ($2.56 billion) in premium bonds and stocks abroad, the firm said in a report published yesterday.
The General Retirement Foundation has SR26 billion, or 73 percent of its assets, invested in local stock market and funds, the firm said in a report carried by Al-Eqtisadiah business daily.
The firm wants to invest the remaining 27 percent of its assets in "buying premium international stocks and bonds that enjoy a great deal of stability and profitability," the newspaper quoted it as saying. Al Eqtisadiah estimated the funds to be invested abroad at SR9.6 billion.