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.

Source: Wall Street Journal August 15, 2020 17:48 UTC