State Street Investment Management, the asset management arm of State Street Corporation, announced on Wednesday the listing of the “SPDR – J.P. Morgan Saudi Aggregate Bond ETF” on the Singapore Exchange.

The recently launched fund, with an initial investment from the Public Investment Fund (PIF), is managed by State Street Investment Management and focuses on the Saudi financial market.

The listing of the “SPDR – J.P. Morgan Saudi Aggregate Bond ETF” is part of PIF’s efforts to enable greater international access to the Saudi financial market and attract foreign investments.

The fund was first launched in December 2024 on the German Xetra exchange and has since been made available to investors in the UK and Italian markets. It is the first Saudi fixed income ETF offered in Europe, tracking the “J.P. Morgan Aggregate Saudi Market Index,” providing investment opportunities in government and quasi-government bonds denominated in Riyals or Dollars, including Sukuk.

This new listing on the Singapore Exchange will play a key role in PIF’s strategy to drive economic transformation in the Kingdom and shape the future of the global economy. PIF continues to work with global partners to develop and establish new products to facilitate international investor access and attract foreign capital to the Saudi financial market.

Abdulmajid Al-Huqbani, Head of Securities Investments at PIF, said: “Today’s listing on the Singapore market is an important achievement that aligns with our ongoing efforts to enhance investment flows into the Kingdom. It also reflects the high global confidence in the Saudi economy, alongside increased ability for Singaporean investors to access capital markets in the region.”

He added: “This achievement supports the growth of the Kingdom’s capital markets ecosystem and the economic transformation in line with Saudi Vision 2030. It reflects PIF’s commitment to enhancing investor access worldwide to the Saudi market and providing exciting international investment opportunities.”

The first ETF invested in by PIF was launched in November 2023, with the listing of the Albilad CSOP MSCI Hong Kong China Equity ETF on the Hong Kong Exchange, with an initial size exceeding $1 billion. It was the first Saudi ETF in the Asia-Pacific region.

In July 2024, two ETFs affiliated with CSOP Saudi were listed on the Shenzhen and Shanghai exchanges, with a combined launch size of $172 million. This was followed by the listing of a new Saudi equity-linked ETF on the Tokyo Stock Exchange in December 2024.

In January 2025, PIF announced a SAR 750 million (approximately $200 million) investment in the “SPDR – J.P. Morgan Saudi Aggregate Bond ETF,” the first Saudi fixed income ETF for collective investment in convertible securities in Europe.

This investment coincides with many international investors seeking to invest in the Kingdom and its rapidly maturing and growing financial market, supported by the transformations and achievements aligned with Saudi Vision 2030.