New Saudi fund to face scrutiny on governance, sustainability

Saudi Arabia plans to merge two state investment funds into a $250 billion entity, but it will face increased pressure to improve its governance and sustainability practices, say experts. While the investment focus of the new fund, which has yet to be named, will broadly remain in line with its constituents', its size will make it subject to wider scrutiny from the global investment community, believes Gary Smith, managing director of UK think-tank Sovereign Focus. Gary Smi…