Riyadh starts fund to oversee investment

Saudi Arabia is establishing a new company to oversee the investment of the assets of the oil-rich kingdom’s largest state-run pension fund, in a significant break from tradition.

New approach: King Abdullah, the ruler of Saudi Arabia, which is the Arab world’s largest economy

The kingdom, which is ruled by King Abdullah and boasts the Arab world’s largest economy, has traditionally given the responsibility for managing its investments to the Saudi Arabian Monetary Agency (Sama), the de-facto central bank.