The latest news in investment offers, financial products and other services relative to wealth advisors and their clients.

State Street Global Advisors
Boston-headquartered State Street Global Advisors, the asset management arm of State Street Corporation, has just launched the SPDR JP Morgan Saudi Arabia Aggregate Bond UCITS ETF (KSAB), which will be listed on the Xetra and London Stock Exchange.

The new fund aims to track the newly-created JP Morgan Saudi Arabia Aggregate Index, developed 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.

“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,” Emmanuel Laurina, head of Middle East, Africa and official institutions, State Street Global Advisors, said. “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 the Gulf Cooperation Council (GCC) countries has more than tripled since 2019, reaching nearly $1.35 trillion in September 2024, the firm said in a statement. The fund is available to investors in Austria, Denmark, France, Finland, Germany, Italy, Luxembourg, the Netherlands, Norway, Spain, Sweden, and the UK.