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Saudi Wealth Fund Moves Billions from Blue Chips to ETFs


Saudi Arabia’s sovereign-wealth fund has sold shares valued at over $5.5 billion in several major multinational corporations just months after buying into them as the financial fallout from the coronavirus pandemic weighed on global stock-market prices.

At the same time, the roughly $300 billion Public Investment Fund chaired by the kingdom’s powerful Crown Prince Mohammed bin Salman, invested nearly $4.7 billion in exchange-traded funds focused on the real-estate, utilities and materials sectors, a U.S. filing showed.



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