Some big investors have fallen out with their portfolio operators in the Saudi stock market, sources said. Six portfolios owned by big investors have been withdrawn following the decision to change the share-price unit, said a source at the Saudi Arabian General Investment Authority (SAGIA). “The withdrawal of portfolios by the financial sharks was in response to that decision, but will in no way affect it. This has, however, resulted in a fall in the index to below 7500 points,” the source said. Legal sources say some sharks have accused their portfolio operators of embezzlement. One senior speculator has taken his portfolio operator to court, accusing him of embezzling SR50 million. The case is now with the Financial Disputes Committee. __
