There's a burgeoning bull case for Saudi Arabia stocks.
The iShares MSCI Saudi Arabia ETF (KSA) is up more than 8% year to date and almost 20% over a three-year period.
The MSCI Saudi Arabia Index is composed of almost 45% in financials, followed by 22.1% in materials, mostly consisting of petrochemicals groups.
More foreign investment The kingdom's Vision 2030 economic blueprint aims to raise foreign direct investment contributions to 5.7% by 2030 from 0.7% currently .
Another fund that does this is the Franklin FTSE Saudi Arabia ETF (FLSA) .
Persons:
Morgan Stanley, Carlos Asilis, Ramzi Sidani, — it's, they've, It's, Andrew Miller, Miller, Glovista's, HSBC's Sidani, Mondrian, — CNBC's Michael Bloom
Organizations:
Glovista Investments, JPMorgan —, HSBC's Global Research, Saudi, HSBC's Frontier Equity, United Arab Emirates, Mondrian Investment Partners, Franklin FTSE, Franklin FTSE Saudi Arabia, Aramco, Al, Al Rajhi Bank
Locations:
Saudi Arabia, Saudi, Russia, Ukraine, East, Korea, Australia, Chile, Poland, financials, Qatar, Franklin FTSE Saudi, Al Rajhi