Morgan Stanley Saudi Arabia (MSSA) announced it has launched the Morgan Stanley Saudi Equity Fund. The fund is offering GCC investors exposure to the kingdom through investment in Saudi Arabian equities. The launch follows approval by the Capital Markets Authority of Saudi Arabia in August last year. The fund is an open-ended collective investment scheme domiciled in Saudi Arabia aimed at providing long-term capital appreciation and growth by investing in securities listed and traded on the Tadawul, Saudi Arabia's stock exchange, as well as in securities offered in the course of an initial public offering in the kingdom. “This is another important milestone in the development of Morgan Stanley's business in Saudi Arabia,” said MSSA chairman Fahad Almubarak. “We are pleased to be able to offer GCC investors access to the Saudi equity market,” said Morgan Stanley Investment Management, Middle East and North Africa head Michael Samaha. “We are seeing increasing demand from clients and investors for actively managed investment vehicles, which provide exposure to the Saudi growth story, and as we see the GCC countries increasingly open their capital markets to foreign investors, we believe now is an opportune moment to be launching this fund.”
