Saudi Fransi to offer BlackRock products
Riyadh, June 30, 2013
Saudi Fransi Capital (SFC), the brokerage arm of top Saudi lender Banque Saudi Fransi, said it has signed an agreement with BlackRock, the world’s largest asset manager, to offer a variety of investment solutions covering multi assets and global financial markets.
The agreement reaffirms SFC capacities and continuous endeavor to provide investment solutions that meet the clients’ requirements, said a statement from the Saudi bank.
Cooperation with BlackRock will yield new opportunities to SFC clients through the diversity of investment solutions and strategies offered, it stated.
CEO Yasir bin Othman Al Rumayyan said, “We are pleased to provide investment solutions of the world’s largest asset manager. This is a milestone for SFC, whereas investors in the Kingdom will be able to access the wider breadth of the BGF range, BlackRock’s flagship long only fund range in the Europe, Middle East and Africa region."
“In co-operation with BlackRock, we choose to cover different asset classes, which are: Stocks, Bonds, multi assets, and income generating investments in different financial markets; thus, enabling our esteemed clients to benefit from the different investment opportunities provided, because sometime, therewill be a need for to have an investment strategy that utilized the prevailing investment environment,” stated Al Rumayyan.
On the reason behind choosing BlackRock, Al Rumayyan said, “It is the world’s largest asset manager, managing assets worth $3.9 trillion, and with its 10,000 employees in more than thirty countries, it has wide coverage of financial markets around the globe.”
On the new Saudi partnership, Nick Anderson, the Mena manager at BlackRock said, "This arrangement allows us to provide truly tailored solutions to investors based in the region and offers them access to a substantial and complimentary product suite."-TradeArabia News Service