Richard Cormack
KSA could account for 70% of Mena region MSCI EM: Goldman
RIYADH, February 21, 2024
The Mena region could become 10% of MSCI EM Index, with Saudi Arabia accounting for around 70% of this, said Richard Cormack, Co-Head of Equity Capital Markets EMEA, at Goldman Sachs. These findings are according to new research by the firm.
Speaking on a panel at the third Edition of the Saudi Capital Market Forum, Cormack asserted that this prediction would put the Mena region in parallel with Latin America bloc, the biggest bloc outside of Asia, and in terms of passive and active flows, would mean around $50 billion over time.
He went on to state that Saudi Arabia “is up there with developed markets”, noting that it trades at an attractive multiple with market PE around 21 times – the same as the market PE in the US.--TradeArabia News Service
