The Public Investment Fund invests in the first broad-based ETF
Albilad Capital Company announced the listing of a fund "Albilad MSCI, the trader for Saudi stocks"which is the first large-scale local ETF in the market, with a major investment from the Public Investment Fund.
The new ETF, listed on the Saudi Financial Market (Tadawul), provides investors with access to companies listed in the index "MSCI Saudi Equities" Sharia-compliant.
250 companies
The fund includes more than 250 companies distributed between leading stocks and small and medium-sized stocks in the main and parallel Saudi markets.
The new investment reflects the role of the Public Investment Fund in enabling the development of the asset management sector in the Kingdom, enhancing liquidity in the Saudi financial markets, and driving innovation in financial products.
It is a box "Albilad MSCI, the trader for Saudi stocks"the seventh ETF it launches and lists "Al Bilad Financial Company" In the Saudi financial markets, which strengthens its position as one of the largest issuers of this type of funds locally and regionally.
A new stage
Abdul Majeed Al-Haqbani, Head of the Securities Investments Department at the Public Investment Fund, said: "The listing of the Albilad MSCI Saudi Equity ETF represents a new stage in the Public Investment Fund’s strategy regarding exchange-traded funds, as it contributes to accelerating innovation and expanding the horizons of the local asset management sector."
He added: "The Public Investment Fund’s investments in exchange-traded funds over the past two years have contributed to enhancing the flow of investments into Saudi stocks, which has strengthened the market’s strength and raised levels of investor confidence."
He pointed out that the Public Investment Fund contributes, through effective cooperation with asset managers and strategic partners, to building a flexible system that provides opportunities, enhances diversification, and consolidates the Kingdom’s position as a regional center for advanced investment solutions.
Innovative Products
Zaid Al Mufarreh, CEO of Albilad Capital, said: "The listing of the new ETF confirms Albilad Capital’s leadership in the ETF market in the local financial markets, and reflects its commitment to providing innovative and effective investment products that meet the needs of investors, within a strong regulatory framework and infrastructure that supports accelerating the growth of the sector."
He added: "Our partnership with the Public Investment Fund, as a major investor in the new ETF, reflects our shared vision and our continued endeavor to develop the ETF sector in the Kingdom and strengthen its position as the largest regional center for this type of fund."
The Public Investment Fund has previously entered into partnerships with a number of global asset managers, to list exchange-traded funds listed on the stock exchanges of Hong Kong, Shenzhen, Tokyo, Frankfurt, London, Italy, and Singapore.
It is worth noting that the company "Al Bilad Finance" One of the largest issuers of ETFs locally and regionally, with assets under management amounting to approximately 6 billion Saudi riyals, representing 64% of the total ETFs managed in the Kingdom and 52% of the total ETFs managed in the Gulf Cooperation Council markets, in addition to a diversified portfolio covering fixed income instruments, commodities, global stocks, and local sectoral stocks. And international.
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