MSIM Increases Saudi Arabia Assets

Morgan Stanley has doubled its asset under management in Saudi Arabia.

Morgan Stanley has doubled its asset under management (AUM) in Saudi Arabia, Bloomberg reports. Morgan Stanley Investment Management is targeting a 1% market share of the kingdom’s investment funds worth $85 billion.

Morgan Stanley Saudi Arabia, which was set up four years ago in a joint venture with Capital Group, began executing swap transactions in August 2008 for non-resident foreign investors. The country restricts direct foreign investments in its capital markets.

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