PIF named anchor investor in Albilad MSCI Saudi Equity ETF

Logo of Public Investment Fund (PIF)

The Public Investment Fund (PIF) became an anchor investor in Albilad MSCI Saudi Equity ETF — the first locally listed broad-market ETF on the Saudi Exchange (Tadawul), Albilad Capital said in a statement picked up by Argaam.

The newly listed exchange traded fund (ETF) provides investors with access to Shariah-compliant companies included in the MSCI Saudi Arabia Index, which comprises over 250 small-, mid-, and large-cap stocks across the Main Market (TASI) and Nomu-Parallel Market.

Albilad Capital noted that this ETF represents its seventh ETF launched and listed on Tadawul, further strengthening its leadership in the local ETF sector.

According to data available with Argaam, units of Albilad MSCI Saudi Equity ETF began trading on Tadawul on Oct. 21, following the completion of the offering on Oct. 15, through which Albilad Capital raised approximately SAR 316 million.