Traders monitor stock prices on screens at the Saudi Investment Bank in Riyadh June 7, 2015. REUTERS/Faisal AlNasser
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Global equity markets woke up Monday to a new $558 billion magnet pulling cash out of developing nations ranging 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:Julian Mayo, who helps manage $2.3 billion in developing-market assets as co-chief investment officer at Charlemagne Capital in London:
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