18.09.2015 - Another OPEC ETF Debuts
Saudi Arabia, the largest producer in the Organization of Petroleum Exporting Countries, can now be accessed by U.S. investors via an exchange traded fund with Thursday's debut of the iShares MSCI Saudi Arabia Capped ETF. The iShares MSCI Saudi Arabia Capped ETF is the first dedicated ETF for the Arab world's largest equity market. The new Saudi ETF was made possible by the kingdom's efforts to open its financial markets, though on a somewhat limited, to foreign investment in a bid to reduce the economy's dependence on oil. The iShares MSCI Saudi Arabia Capped ETF follows the MSCI Saudi Arabia Investable Market Index (IMI) 25/50 Index. Though Saudi Arabia is home to some of the largest oil reserves in the world, the country's major oil producers are private, state-controlled companies so KSA and the MSCI Saudi Arabia Investable Market Index (IMI) 25/50 Index are not as energy-heavy as some investors might suspect.......................................Full Article: Source
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