in our view. Saudi Arabia would however likely be
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which would suggest a 10-year Saudi bond yield of c3.65%.
which is one of the lowest levels ever. Even if Saudi Arabia did start investing
as Saudi ramps up production over the medium-term by
BofA ML Commodities Research. IEA estimates Saudi production capacity at 12.2mn bpd
we nevertheless see material opportunities for Saudi real
justified by the market’s higher ROE’s (Saudi’s long term P/B premium
Saudi trades on 12mth FWD EV/EBITDA multiples of 9x
GEM funds allocation to Saudi Arabia remains relatively
we use MSCI’s standalone Saudi market index as a template
Saudi Arabia would be the thirteenth largest constituent of the MSCI EM
Saudi would be 2.8% of the MSCI and could
(2) Saudi Arabia (according to local press and the
Saudi Arabia would be the seventh largest constituent of
and the small size of existing Saudi hospital groups limits