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Saudi Arabia is attracting significant attention for its financial activities, with four IPOs generating $176 billion in orders and the country attempting to address a $21 billion deficit by selling bonds. The nation is also reducing its U.S. stock portfolio, focusing on minerals and hard assets while strengthening ties with China. Concerns arise among Wall Street money managers that Saudi Arabia's $925 billion wealth fund may shift towards domestic spending over global investments.
Wall Street's money managers fear Saudi Arabia's $925 billion wealth fund may pivot away from global investments to ramp up domestic spending https://t.co/AKMobblbwR via @business
Wall Street's money managers fear Saudi Arabia's $925 billion wealth fund may pivot away from global investments to ramp up domestic spending https://t.co/N2zMSTnw3u
Saudi Arabia reduced its U.S. stock portfolio by 41% in the first quarter. They continue to focus on minerals and hard assets. Saudi Arabia also continues to get closer to China. China is very focused on the Middle East. This is no secret.