The Saudis are taking another step toward "diversifying" as Crown Prince Mohammed bin Salman tries to make the Saudi economy less dependent on the energy sector. Flush with cash thanks to the ongoing ramp in oil and natural gas prices, Saudi Arabia's massive $500 billion+ sovereign wealth fund has apparently decided to put it to work by buying some $10 billion in publicly traded equities during the coming year.
The decision comes as the Saudi wealth fund has promised to double its assets by 2025. As Bloomberg points out, heavy buying of equities…Saudis Arabia Reserves $10 Billion To Buy The Stock Market Dip
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