State Street Investment Management and the National Development Fund of Saudi Arabia (NDF) have announced a strategic collaboration that aims to broaden global investor access to the Saudi market and support Vision 2030 by accelerating the Kingdom’s financial transformation.
The agreement, announced at the US-Saudi Investment Forum, will focus on creating new and innovative products that provide investors with exposure to Saudi capital markets.
As part of this collaboration, both organisations will work together on the development of ETFs and potentially other investment vehicles. State Street Investment Management will also provide training and knowledge-sharing to NDF, helping to build capabilities and further accelerate market development.
This collaboration is designed as part of the strategy of NDF to further develop Saudia Arabia’s capital markets, diversify investment channels, and attract additional global participation.
For State Street Investment Management, the collaboration underscores its commitment to Saudi Arabia as a key strategic growth region and its role as a leading global market innovator and trusted partner in developing the Kingdom’s asset management and capital markets ecosystem.
Salah AlBassam, Investment Management Sr. Executive Director at the National Development Fund, says: “This collaboration with State Street Investment Management marks an important milestone in NDF’s strategy to advance the Kingdom’s investment ecosystem and strengthen its global connectivity. By combining international expertise with Saudi Arabia’s growing financial capabilities, we aim to introduce innovative investment products that enhance access to our markets, attract global capital, and deliver sustainable impact in line with Vision 2030.”
“NDF’s central role in the Kingdom’s burgeoning financial services ecosystem makes them an ideal partner for this project,” says Yie-Hsin Hung, President and chief executive officer at State Street Investment Management. “Saudi Arabia has quickly established itself as a vital component of the global market landscape, offering significant opportunities for innovation. As a leading global investment manager with deep expertise and a proven track record of partnership, State Street Investment Management looks forward to working jointly with NDF to help evolve Saudi capital markets, and deliver new products and services, and ultimately better outcomes, to investors around the world.”
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