Strategic Investment: The Public Investment Fund (PIF) has allocated $200m to the first European-listed ETF tracking Saudi bonds, managed by State Street Global Advisors. The ETF includes both dollar- and riyal-denominated Saudi securities, deepening market accessibility.
Market Expansion: The move aligns with Saudi Arabia’s Vision 2030, aimed at diversifying its economy beyond oil. It follows the kingdom's recent $12bn bond sale and ongoing efforts to attract global investors.
Future Prospects: JPMorgan may include Saudi local currency bonds in its emerging markets index, potentially driving more foreign inflows into the nation's debt market.
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