Asia’s 1st Saudi Arabia ETF Lists On HK Exchange

Asia’s 1st Saudi Arabia ETF Lists On HK Exchange

Asia’s first exchange-traded fund, the CSOP Saudi Arabia ETF, has listed on the Hong Kong exchange, attracting $1bn in initial investment. Launched with strong government support, the ETF invests in a portfolio correlated to the FTSE Saudi Arabia Index, with a market capitalisation of over $270bn.

It aligns with the Saudi Vision 2030 project, Crown Prince Mohammed bin Salman’s roadmap for economic diversification and global engagement. Top holdings include Saudi Aramco and Al Rajhi Banking & Investment. The Public Investment Fund, Saudi Arabia’s $700bn sovereign wealth fund, has been named as an anchor investor. CSOP Asset Management, which manages the ETF, declined to disclose the amount of the $1bn initial fundraising from PIF but called it “the most important cornerstone investor” for the product.

(With inputs from Shikha Singh)

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