2005 News Story

Saudi pension fund to invest SR9.6 billion abroad

The Public Establishment for Retirement, a Saudi pension fund, plans to invest an estimated SR9.6 billion [U.S. $ 2.56 billion] in premium bonds and stocks abroad, the firm said in a report published yesterday. The fund has SR26 billion, or 73 percent of its assets, invested in local stock market and funds, according to the report, published in the Al-Eqtisadiah business daily.  The firm wants to invest the remaining 27 percent of its assets in "buying premium international stocks and bonds that enjoy a great deal of stability and profitability," the newspaper quoted it as saying.