The General Retirement Foundation, a Saudi-based pension fund, reportedly plans to invest an estimated Saudi riyals 9.6 billion ($2.56bn) in premium bonds and stocks abroad, firm representatives revealed.
Currently, the firm has 73 percent of its assets, or 26bn riyals, invested in local stock market and funds.
The remaining 27 percent of its assets will be invested by the firm in 'buying premium international stocks and bonds that enjoy a great deal of stability and profitability,' according to Al Eqtisadiah.
Though officials at the General Retirement Foundation declined to comment on the report, the estimated funds to be invested abroad amount to approximately riyals 9.6bn.
© 2005 Mena Report (www.menareport.com)
