Middle East Update
There have been two main arguments for investing in the Middle Eastern markets over recent times. Firstly, the much more productive use of oil reserves has lead to a transformation of the economies which have been successfully diversifying, growing strongly and have very strong fundamentals. Secondly, these markets have historically had a very low correlation with both the developed and emerging stock markets.
In the face of the global credit crunch and set back in stockmarkets generally, the Arabian markets have outperformed but have not provided the degree of protection that would have been expected.
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