The Public Investment Fund (PIF) has invested $200 million in the SPDR J.P. Morgan Saudi Arabia Aggregate Bond UCITS ETF, according to Zawya. The exchange-traded fund (ETF), managed by State Street Global Advisors, focuses on Saudi sovereign and quasi-sovereign bonds.
The investment was confirmed during a bell-ringing ceremony at the London Stock Exchange. Yazeed Al-Humied, Deputy Governor and Head of MENA Investments at PIF stated that the investment aims to bolster the Saudi market and increase international investor participation.
The ETF tracks the performance of US dollar-denominated sovereign and quasi-sovereign bonds and SAR-denominated sukuk issued by the Saudi government.
According to Fitch Ratings, debt capital markets in the GCC are expected to expand further in 2025 and 2026, supported by oil revenue flows.
