Saudi Central Bank Pulls Billions From 2 Asset Managers
Updated
Updated · Bloomberg · Jun 22
Saudi Central Bank Pulls Billions From 2 Asset Managers
2 articles · Updated · Bloomberg · Jun 22
Summary
At least two global asset managers have seen Saudi central bank money withdrawn in recent months, with the pullback running into the billions of dollars.
One redemption alone was multibillion-dollar and came from passive index-tracking funds at a single firm this year, according to people familiar with the matter.
The withdrawals began before the Iran war, indicating the move reflects SAMA becoming more selective about how it deploys capital rather than a direct response to the conflict.
The shift points to a more discriminating approach by the custodian of one of the world's deepest pools of capital, a stance that could reshape where Saudi state money is allocated.