The Public Investment Fund (PIF) is investing $200 million into the inaugural internationally listed exchange-traded fund (ETF) that targets Saudi Arabia. This move by the sovereign wealth fund in the SPDR J.P. Morgan Saudi Arabia Aggregate Bond UCITS ETF, overseen by State Street Global Advisors, is anticipated to further enrich the Saudi market.
A statement revealed that the fund, in collaboration with State Street Global, officially announced the investment during a bell-ringing ceremony at the London Stock Exchange.
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Alignment with Vision 2030
This investment is in line with the goals of Saudi Vision 2030, marking a noteworthy advancement in promoting the international visibility of Saudi Arabia’s financial markets and attracting overseas investments. The fund is accessible to investors in multiple European nations, including Austria, Denmark, France, Germany, and Italy.
PIF’s commitment
In remarks regarding the investment, Yazid Al-Humaid, deputy governor and head of MENA Investments at PIF, stated: “The fund continues to create opportunities and enable access to diverse capital markets in the Kingdom. Investing in the first internationally listed Saudi fixed-income ETF underscores PIF’s commitment to deepening Saudi capital markets, attracting investors, and driving partnerships across global financial centers.”
Yi-Hsin Hung, CEO of State Street Global Advisors, highlighted that the introduction of the fund represents a significant milestone in offering innovative investment opportunities while contributing to the economic development of Saudi Arabia.
