Live Updates > Live Update Details
2025-10-29 21:26:42
[BlackRock and Saudi PIF Join Forces to Launch a Major Initiative, Ushering in a Major Transformation for the Middle East Mutual Fund Market] ⑴ BlackRock and the Saudi Public Investment Fund (PIF) have jointly launched a new mutual fund covering multiple asset classes. ⑵ The fund focuses on Saudi equities and fixed-income assets in the Middle East and North Africa, positioning itself with a regional focus. ⑶ Global and local investors can subscribe to the product through BlackRock's Riyadh investment management platform. ⑷ This collaboration aims to deepen the development of Saudi capital markets and support Saudi Arabia's Vision 2030 strategic goals. ⑸ The portfolio is directly managed by fund managers based in Riyadh, highlighting a localized operational strategy. ⑹ BlackRock's staff in Saudi Arabia has nearly tripled since April 2024. ⑺ The company is expanding its global graduate analyst program to Riyadh, with the third cohort graduating in 2026. ⑻ The Middle East investment product line continues to expand, covering public markets and private assets, including infrastructure.
