Saudi Shares Overtake Turkey as Destination for U.S. ETFs
- ETFs trading in New York track stocks in Riyadh and Istanbul
- Total assets for Saudi fund surpass that of Turkish peer
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The amount of money that U.S.-based investors are pouring into Saudi Arabian equities has overtaken flows into Turkish stocks, a sign of the contrasting recent fortunes of the two markets.
An exchange-traded fund focused on Saudi stocks has been increasing its assets under management steadily this year, surpassing a peer focused on Turkish shares for the first time since July. Both funds are offered by BlackRock Inc. and have most of their allocations in banking stocks.