The Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund, has invested $200 million in the first internationally listed exchange-traded fund (ETF) centered on Saudi Arabia. The fund, known as the SPDR J.P. Morgan Saudi Arabia Aggregate Bond UCITS ETF, is managed by State Street Global Advisors.

The announcement was made during a bell-ringing ceremony at the London Stock Exchange. According to Yazeed Al-Humied, Deputy Governor and Head of MENA Investments at PIF, this move is expected to strengthen the Saudi market, attract more investors, and enhance global partnerships for Saudi Arabia.

The ETF is designed to track the performance of liquid, US dollar-denominated sovereign and quasi-sovereign bonds, along with SAR-denominated sukuk issued by the Saudi government.

Debt markets in the GCC are projected to expand further in 2025 and 2026, driven by strong oil revenues, Fitch Ratings noted. This latest investment by PIF could help position Saudi Arabia’s market as a key player in the global financial landscape.

Source: ZAWYA