Middle East / UK / Germany Dec 12, 2024 – State Street Global Advisors, the asset management business of State Street Corporation (NYSE: STT), today announced the launch of the SPDR J.P. Morgan Saudi Arabia Aggregate Bond UCITS ETF (KSAB) to be listed on the Xetra and London Stock Exchange.
The new fund aims to track the newly created index J.P. Morgan Saudi Arabia Aggregate Index, developed in close collaboration with SSGA, to provide investors with exposure to the performance of liquid, USD-denominated and SAR-denominated government and quasi-government bonds, including Sukuks bonds.
Emmanuel Laurina, Head of Middle East, Africa and Official Institutions, State Street Global Advisors, said: "We are pleased to offer investors cost effective access to the fast growing fixed income market in Saudi Arabia, one of the leading issuers of investment grade international bonds among emerging markets. As the Kingdom continues to diversify its economy through energy transition, infrastructure and other growth initiatives, we believe there are appealing investment themes for international investors to capture through a diversified exposure to Saudi bonds."
Growth of the Saudi bond market has accelerated over recent years, driven in part by the Kingdom's Vision 2030. The total amount of outstanding bonds issued by Gulf Cooperation Council (GCC) countries has more than tripled since 2019, reaching nearly US$1.35 trillion in September 2024.
The fund is available to investors in Austria, Denmark, France, Finland, Germany, Italy, Luxembourg, Netherlands, Norway, Spain, Sweden, and the UK.
For more information on the funds visit, ssga.com/etfs.
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About SPDR Exchange Traded Funds
SPDR ETFs are a comprehensive family spanning an array of international and domestic asset classes. The funds provide investors with the flexibility to select investments that are aligned to their investment strategy. For more information, visit .
About State Street Global Advisors
For over four decades, State Street Global Advisors has served the world's governments, institutions, and financial advisors. With a rigorous, risk-aware approach built on research, analysis, and market-tested experience, and as pioneers in index and ETF investing, we are always inventing new ways to invest. As a result, we have become the world's fourth-largest asset manager* with US $4.73 trillion † under our care.
*Pensions & Investments Research Center, as of 12/31/23.
† This figure is presented as of September 30, 2024 and includes ETF AUM of $1,515.67 billion USD of which approximately $82.59 billion USD in gold assets with respect to SPDR products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated. Please note all AUM is unaudited.
^ Source: Morningstar as of November 11, 2024
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Marketing Communication
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Investing involves risk including the risk of loss of principal.
The whole or any part of this work may not be reproduced, copied or transmitted or any of its contents disclosed to third parties without SSGA's express written consent.
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This press release, and the information contained herein, does not constitute, and is not intended to constitute, a public offer of securities in the United Arab Emirates ("UAE") and accordingly should not be construed as such. The ETF is only being offered to a limited number of exempt Professional Investors in the UAE who fall under one of the following categories: federal or local governments, government institutions and agencies, or companies wholly owned by any of them. The ETF has not been approved by or licensed or registered with the UAE Central Bank, the SCA, the Dubai Financial Services Authority, the Financial Services Regulatory Authority or any other relevant licensing authorities or governmental agencies in the UAE (the "Authorities"). The Authorities assume no liability for any investment that the named addressee makes as a Professional Investor. The press release is for the use of the named addressee only and should not be given or shown to any other person (other than employees, agents or consultants in connection with the addressee's consideration thereof).
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