Core Insights - Saudi Arabia is expected to emerge as a prominent market in 2026, having previously been overlooked [1] - The country benefits from a stable macroeconomic outlook, which is crucial for attracting investments [1] - Several catalysts are identified that could enhance equity market performance in Saudi Arabia [1] Economic Outlook - The macroeconomic stability of Saudi Arabia is highlighted as a key factor for its future market performance [1] - The country has been under the radar but is now positioned for significant growth [1] Investment Catalysts - Various catalysts are mentioned that could drive the equity market performance in Saudi Arabia, although specific catalysts are not detailed in the provided text [1]

Market Performance - The market has experienced a strong year, ending up 16%, with the S&P and Russell 2000 hitting new highs, and international and emerging market equities up over 30% year to date [1][2] - Over the last three years, the market has increased by 80% [3] Investment Outlook - The company maintains a neutral outlook on US large cap equities while being overweight on small caps and favoring international and emerging markets [3][5] - The IPO calendar is expected to strengthen in 2026, with increased M&A activity in the small cap space [5] Currency Impact - A significant portion of the 30% return in international equities is attributed to the decline of the US dollar, with returns in local currency being about half of that in US dollar terms [6]