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Financial markets

State Street Investment Management Cross-Lists PIF Anchored Investment in Singapore

Strategic Insights

— 2 min read

State Street Investment Management has announced the cross-listing of the PIF anchored investment SPDR J.P. Morgan Saudi Arabia Aggregate Bond UCITS ETF in Singapore, marking the latest development in cementing PIF's role in enabling greater international access to Saudi Arabia's capital market. The cross-listing is part of PIF's wider ETF strategy, working with world-class partners to develop and seed new products to ease access for international investors and attract foreign capital into Saudi's capital market. Abdulmajeed Alhagbani, Head of Securities Investments at PIF, highlights the significance of this milestone in deepening capital inflow into Saudi Arabia and reinforcing PIF's commitment to opening gateways to Saudi's dynamic market. The cross-listing is expected to accelerate the growth of Saudi Arabia's capital markets ecosystem and support the country's economic transformation in line with Saudi Vision 2030.

Key Takeaways:

  • The SPDR J.P. Morgan Saudi Arabia Aggregate Bond UCITS ETF was initially launched on the Deutsche Börse in December 2024.
  • The ETF has been cross-listed on the London Stock Exchange and the Borse Italiana prior to its cross-listing in Singapore.
  • The cross-listing in Singapore marks a significant milestone in cementing PIF's role in enabling greater international access to Saudi Arabia's capital market.
  • The ETF is part of PIF's wider ETF strategy aimed at developing and seeding new products to ease access for international investors and attract foreign capital into Saudi's capital market.
  • Abdulmajeed Alhagbani, Head of Securities Investments at PIF, views the cross-listing as a reflection of strong global confidence in Saudi Arabia's economy.
  • The cross-listing is expected to support the country's economic transformation in line with Saudi Vision 2030 and accelerate the growth of Saudi Arabia's capital markets ecosystem.
  • State Street Investment Management is collaborating with world-class partners to develop and seed new products to ease access for international investors.

Statistics:

  • 2024: The year the SPDR J.P. Morgan Saudi Arabia Aggregate Bond UCITS ETF was initially launched on the Deutsche Börse.
  • The ETF has been cross-listed on multiple exchanges, including the London Stock Exchange and the Borse Italiana.
  • PIF's wider ETF strategy is aimed at developing and seeding new products to attract foreign capital into Saudi's capital market.

Sources:

  • State Street Investment Management's announcement on the cross-listing of the PIF anchored investment SPDR J.P. Morgan Saudi Arabia Aggregate Bond UCITS ETF in Singapore (no date mentioned).

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