New Saudi Sovereign Wealth Fund

A new Saudi sovereign wealth fund (SWF), Sanabil Al Saudia, commenced operations last week. Gulf SWFs have recently initiated significant changes in their investment strategy. They have shifted away from investing in Western markets, particularly the financial sector, and started to invest in local businesses and banks. Furthermore, they have decreased the dollar ratio in their investment portfolio and started to improve their transparency as a response to the global anxiety over their investment goals. How will this affect my portfolio in the medium term?