10/07/2010
First Saudi Petrochemicals fund
Listing the first Saudi petrochemical fund today
Saudi Arabia's financial market is preparing to receive the first fund specializing in the petrochemical sector, which is the second fund of for traded index on the local market, with a unit price of 20 riyals.
Economists likely to observe the Fund well received during the trading period, as being the most important and prominent sector in the Saudi market, calling it the "Promising Sector".
Specialists also expected the fund to see a high demand for this fund, especially from foreign investors.
Specialists focused in their speech to "Al-Eqtissadiyah" in regard of launching the first petrochemical fund show the great future that awaits this sector, and their success even on the banking sector.
According to economists, the existence of such specialized funds in the Saudi market will diversify and develop investments.
Therefore; Suhail Al-Darij, an expert in global financial markets has assured that the idea of specialized units will revolutionize the premium domestic market and will support the diversification of the investments traders. He considered that such a specialized fund is useful for the local financial market.
He predicted that Falcom fund for the petrochemical sector will differ from the performance of Falcom fund 30 which was launched earlier, investing in the top 30 companies in the market.
For his part, agreed Dr. Abdulwahab Abu-Dahesh agreed with Al-Darij in terms of effectiveness of Falcom Fund for traded units to investors, adding that the new fund will have an extremely positive impact on the local market, as the petrochemical sector in particular will benefit the sector and stimulate investors during the coming period.
Abu-Dahish has pointed that the new fund will support the investor's performance that prefer to invest in this promising sector, and will have an impact on the companies as SABIC will biggest one for this fund.
The prospectus of Falcom Fund belongs to the petrochemical sector has explained that the Fund will seek to achieve growth and capital gains in the long term through active management of the petrochemical sector in Saudi Stock Exchange (Tadawul.)
