Saudi Arabia’s Public Investment Fund (PIF) invested SAR 750 million, or ($200 million), in the recently launched SPDR J.P. Morgan Saudi Arabia Aggregate Bond UCITS ETF, which is managed by State Street Global Advisors Co.
In a statement today Jan. 8, the company explained that the new fund is the first Saudi fixed-income index fund to be listed in Europe, as it was listed on the London Stock Exchange and Deutsche Börse (Primary).
The J.P. Morgan Saudi Arabia Aggregate Index aims to track the performance of liquid, USD-denominated sovereign and quasi-sovereign instruments and SAR-denominated Sukuk government bonds from Saudi Arabia. The ETF is available to investors in Austria, Denmark, France, Finland, Germany, Italy, Luxembourg, the Netherlands, Norway, Spain, Sweden and the United Kingdom.
The launch and listing of the ETF is an important step in the context of PIF’s efforts to enable greater international access to the Saudi capital market, with opportunities to attract foreign investments, State Street added.
PIF’s new investment comes as many international investors seeking to invest in the Kingdom and its capital market, which is witnessing great maturity and growth, supported by the transformations and achievements that the Kingdom is going through in line with Saudi Vision 2030.
Saudi Arabia’s Public Investment Fund (PIF) invested SAR 750 million, or ($200 million), in the recently launched SPDR J.P. Morgan Saudi Arabia Aggregate Bond UCITS ETF, which is managed by State Street Global Advisors Co.
In a statement today Jan. 8, the company explained that the new fund is the first Saudi fixed-income index fund to be listed in Europe, as it was listed on the London Stock Exchange and Deutsche Börse (Primary).
The J.P. Morgan Saudi Arabia Aggregate Index aims to track the performance of liquid, USD-denominated sovereign and quasi-sovereign instruments and SAR-denominated Sukuk government bonds from Saudi Arabia. The ETF is available to investors in Austria, Denmark, France, Finland, Germany, Italy, Luxembourg, the Netherlands, Norway, Spain, Sweden and the United Kingdom.
The launch and listing of the ETF is an important step in the context of PIF’s efforts to enable greater international access to the Saudi capital market, with opportunities to attract foreign investments, State Street added.
PIF’s new investment comes as many international investors seeking to invest in the Kingdom and its capital market, which is witnessing great maturity and growth, supported by the transformations and achievements that the Kingdom is going through in line with Saudi Vision 2030.
