29/03/2010
The stock market is preparing to receive new index funds
D. Dr. Abdul Rahman Al-Tuwaijri& Fahad Al-Mubarak during the launch of the Fund «Falcom»
Saudi Arabia Financial Market' "Tadawul" has celebrated yesterday the inclusion of the first exchange-traded funds (ETFs) in the Saudi market, which is" Falcom Fund" rolling stock in Saudi Arabia'',in the presence of Dr. Abdulrahman Al-Tuwaijri, Head of the financial market.
Dr. Fahad Al Mubarak, Tadawul's Board Director has revealed to ''Al-Eqtissadiyah'' that it will be this year to include a number of index funds, but he did not specify the size of those funds, but made it clear that there are a large number of actors stepped in to the market demands launch new funds for the various indicators and open to residents and foreigners. For his part, Mr. Abdullah Suweilmi expected that there will be a huge demand from investors for traded funds.
Below are more details:
The Saudi Arabia Financial Market' "Tadawul" has celebrated yesterday the inclusion of the first iexchange-traded funds (ETFs) in the Saudi market, which is" Falcom Fund" rolling stock in Saudi Arabia'',in the presence of Dr. Abdulrahman Al-Tuwaijri, Head of the financial market.
Dr. Fahad Al Mubarak, Tadawul's Board Director has revealed to ''Al-Eqtissadiyah'' that it will be this year to include a number of index funds, but he did not specify the size of those funds.
Al-Mubarak has referred on the launch sidelines that the responsibility of organizing these funds fall under the Capital Market Authority, and that the «Tadawul» is working to systematize its inclusion in cooperation with the Commission.
For his part, Abdullah Al-Suweilmi expected that there will be a huge demand from investors for index funds.
Al-Suweilmi has referred to several conferences held in New York recently with investors in the presence of Dr. Abdulrahman Al-Tuwaijri to identify funds in the Saudi market, confirming the presence of a strong desire by investors to venture into those funds.
Al-Mubarak indicates that these also characterized by the continuous assessment by the Director of the Fund during periods of trading, in addition to the low cost of investment compared to traditional funds.
He added that the project passed over several phases, which included several workshops and discussions to reach the optimal design of the product to suit the needs of the Saudi market.
Meantime,Mr. Adib Al-Suwailem CEO of Falcom Financial Services, noted that the Fund has raised after study, research and testing over the past two years, pointing out that the Exchange Traded Funds ETFs are investment funds are divided into equal units are traded on the stock market during periods of trading.
He added that the investment funds is based on the idea of making a safe&feasible investment in any sector, according to market signals and input and thus make it easier for owners and units of these funds see the performance of these funds through the performance indicators that track.
