Hassana Investment Company (Hassana) and State Street Global Advisors (SSGA) signed a Memorandum of Understanding (MoU) today to explore opportunities for Saudi fixed income Exchange-Traded Fund collaboration. This initiative reflects the shared vision of both firms to offer investors the ability to gain exposure to the Saudi capital markets and to bolster the Kingdom’s financial ecosystem. By combining the expertise and resources of Hassana and SSGA, this partnership aims to offer investors access to a broader spectrum of investment opportunities in the Kingdom, which is undergoing significant economic transformation under Vision 2030.
The MoU was signed by Mr. Ahmed W. Alqahtani, CIO of Regional Markets at Hassana, Ms. Ann Prendergast, Head of the Europe, Middle East and Africa (EMEA) region for State Street Global Advisors and Majed Al Hassoun, CEO of State Street Saudi Arabia Financial Solutions.
Commenting on the partnership, Mr. Alqahtani stated: “We are pleased to be partnering with State Street Global Advisors, given their expertise in ETFs. This will unlock opportunities for international investors to participate in the rapidly growing market.”
Ms. Prendergast added: “State Street Global Advisors has been in the forefront of innovation since the creation of the first ETF in 1993. The positive impacts of Vision 2030 and the ongoing transformation in the Kingdom of Saudi Arabia are clear, presenting a compelling investment case to investors around the globe seeking growth and diversification. We are delighted to be working with Hassana to offer our expertise in ETFs, and our global experience and network.”
This partnership aims to support the continued development of Saudi Arabia’s financial markets by introducing innovative investment solutions that provide exposure to those markets.