Global equity markets are waking up to a new $558 billion magnet pulling cash out of developing nations from Russia to Malaysia. As Saudi Arabia lifts a ban on direct investments by foreigners, fund allocators are preparing to shift money out of other countries and put it to work in the Arab world’s largest stock market. While there’s little consensus on which country will be the biggest loser, money managers mostly agree that energy producers will feel the heaviest effects. Below are the views of seven emerging-markets investors and strategists on what to expect: Martial Godet, head of emerging-market equities and derivatives strategy at BNP Paribas SA in Paris: Saudi Arabia “will not be a bargain, but it can be a nice diversification from emerging Asia that has become increasingly large within emerging markets. The biggest losers […]