(Bloomberg) -- As Saudi Arabia ratchets up efforts to reshape itself, the government’s looked to the Public Investment Fund to lead the way. But an increased...
-- As Saudi Arabia ratchets up efforts to reshape itself, the government’s looked to the Public Investment Fund to lead the way. But an increased focus on domestic projects like the $1.5 trillion Neom has global asset managers fretting that it will have less cash to spend abroad.
Al Humied’s team is also taking on a greater role in the fund’s activities outside the Middle East, the people said. They led the way on some international deals that were considered a key part of the PIF’s strategy to bring foreign companies and technologies into the kingdom to help with its diversification strategy.
The fund will continue to do deals outside the kingdom through the international investments team, people familiar with the matter said, though these are expected to be opportunistic, or will be more focused on sectors that help boost the local economy. “Even many of the fund’s international investments appear to be viewed through the lens of domestic dividends,” he said. “International investor interest in the PIF isn’t disappearing soon, but there is likely to be more selectiveness on all sides.”Building a large, tax-free nest egg in your TFSA with growth stocks can give you more control over your tax bill in your retirement years. The post TFSA: 2 Canadian Stocks to Buy and Hold for Tax-Free Gains appeared first on The Motley Fool Canada.
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