US-based State Street Investment Management has launched a Saudi Arabia Enhanced Active Equity UCITS ETF with the kingdom’s PIF sovereign wealth fund as anchor investor.
The fund actively will invest in equities of companies in Saudi Arabia using a quantitative multi-factor stock selection model.
The fund, which goes by the ticker name SAQL, has its primary listing on the Xetra exchange in Germany and is cross-listed on the LSE in the United Kingdom, where a bell ringing ceremony was held.
The fund will be available to investors in both markets as well as investors across other key markets in Europe.
The newly launched fund is the second State Street IM ETF in which PIF has made an anchor investment, and the fifth ETF investment for PIF across nine global markets with leading international asset managers.
Yazeed Al-Humied, Deputy Governor and Head of MENA Investments at PIF, said: “PIF is further strengthening Saudi Arabia’s capital market ecosystem, working with our partners to open gateways for international investors, enable access and drive global capital inflow into the country.
“The launch of this ETF further deepens the Saudi market and builds on a series of PIF-anchored ETF listings across international markets, cementing PIF’s role in driving increased product diversification to enhance liquidity and fulfill market needs.”
Yie-Hsin Hung, Chief Executive Officer of State Street Investment Management, said: “We’re thrilled to continue our partnership with PIF by bringing another innovative Saudi-focused ETF product to market for our European clients.
“Saudi Arabia’s success story in recent years speaks for itself – with the combination of a rapidly expanding domestic market and a supportive regulatory landscape creating a truly compelling prospect for investors around the world. At State Street, as with PIF, innovation is in our DNA and we’re pleased to offer a new product in this same vein, drawing on our decades of experience and commitment to quality to underpin an exciting new offering, anchored by PIF.”
The listing of SAQL follows the launch of the SPDR J.P. Morgan Saudi Arabia Aggregate Bond UCITS ETF (KSAB) in January 2025, as well as the fund’s cross-listing on the Singapore Stock Exchange in September 2025.
The fund is registered for sale in Austria, Denmark, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Norway, Spain, Sweden and the UK.
