- Cross-listing plays key role in PIF strategy to attract foreign investment into Saudi markets

- The exchange traded fund was initially launched in Germany, the UK and Italy

- Singapore launch “reflects strong global confidence in Saudi economy”

PIF is an anchor investor in the SPDR® J.P. Morgan Saudi Arabia Aggregate Bond UCITS ETF (Acc), which State Street Investment Management cross-listed today on the Singapore Exchange.

The Saudi-focused exchange traded fund (ETF) targets investors in Singapore and reinforces PIF’s role in enabling greater international investment in Saudi Arabia’s dynamic capital market. The ETF tracks the newly created J.P. Morgan Saudi Arabia Aggregate Index, providing investors with access to Saudi fixed-income financial instruments.

 The ETF was initially launched on the Deutsche Boerse in December 2024, with PIF as the anchor investor, then cross-listed on the London Stock Exchange and the Borse Italiana. State Street Investment Management is the asset management business of State Street Corporation.

“Today marks a significant milestone as we continue to deepen capital inflow into Saudi Arabia. The cross-listing of this ETF reflects strong global confidence in Saudi Arabia’s economy while broadening access to the region’s capital markets for Singaporean investors,” said Abdulmajeed Alhagbani, Head of Securities Investments at PIF.

“This accelerates the growth of Saudi Arabia’s capital markets ecosystem and supports the country’s economic transformation in line with Saudi Vision 2030, reinforcing PIF’s commitment to opening gateways to Saudi’s dynamic market and creating exciting opportunities for international investment.”

Anna Paglia, Chief Business Officer at State Street Investment Management, said at the listing ceremony in Singapore: “We are excited to bring this Saudi Arabia-focused ETF to Singapore. In light of the growth and increasing accessibility of both the local and hard currency bond markets in the Gulf Cooperation Council (GCC) countries, Saudi Arabian bonds have become a compelling area for portfolio diversification.

“The ETF offers Singapore investors a unique opportunity to tap on the strengthening investment ties between Singapore and Saudi Arabia. The ETF has attracted significant investor interest in Europe, demonstrating strong institutional backing and confidence in the product.”

Source PIF