tion team said last week. "The Saudi engagement in Yemen and Syria will signify higher expenses for the government," said Pictet portfolio manager Andres Sanchez Balcazar, whose colleague attended the roadshow in London. "We don't think that's going to be a great driver for the credit." There's also the face-off wit

et Says 2016-10-17 16:52:29.294 GMT By Ye Xie and Ben Bartenstein (Bloomberg) -- "We believe it came on the expensive side of the equation," says Andres Sanchez Balcazar, Geneva-based portfolio manager who oversees about $9.5 billion at Pictet. * Balcazar's colleague attended Saudi roadshow in London * Pictet conce