Tadawul CEO: Foreigners missing out on peer-beating returns

Tadawul CEO: Foreigners missing out on peer-beating returns

Saudi Gazette reportRIYADH — Khalid Al-Hussan, CEO of Saudi Tadawul Group Holding Co., said that foreign investors’ exposure to the Saudi stock market isn’t high enough, showing that they’re missing out on returns that have beaten most emerging-market peers. “Even though flows have been positive for the past five years, the representation of foreign investors in the market is still, in my opinion, not at the level we would anticipate,” he told Bloomberg Television at the Saudi Capital Market Forum 2024 on Monday, Al Arabiya reported. Al-Hussan said the Kingdom makes up 4.3 percent of the MSCI Emerging Markets Index, an increase from about 1.5 percent when it was first included in the benchmark in 2019 and has outperformed ever since. “The Tadawul All Share Index’s gains have extended this year, with the benchmark rising for the past 13 days, the longest such streak since 2003,” he said.Saudi Arabia’s market has been thrust into the spotlight amid a rush of in-demand initial public offerings which isn’t showing any signs of slowing down. The number of emerging-market funds with exposure to the country has been picking up amid plans to diversify the economy and a steady stream of reforms designed to