PIF unveils groundbreaking initiatives to propel Saudi Arabia’s asset management sector


In a remarkable unveiling at the Future Investment Initiative (FII7) held in Riyadh, the Public Investment Fund (PIF) made headlines by introducing two transformative initiatives designed to stimulate the growth of Saudi Arabia’s asset management sector.

The spotlight was firmly on PIF as they launched these groundbreaking initiatives during the inaugural Asset Management Forum. The first of these initiatives, the PIF Managers Gate Platform, is set to revolutionize the landscape of asset management.

This digital platform offers a cutting-edge collaboration space between PIF and external fund managers, promising secure data sharing, improved communication channels, and the digitization of operational and investment due diligence processes. Its primary objective is to accelerate growth within the asset management industry by identifying potential opportunities and streamlining PIF’s interactions with fund managers.

In a strategic move aimed at bolstering the nation’s financial expertise, PIF also introduced the Portfolio Management Development Program. This comprehensive educational initiative, delivered in collaboration with IE University and sponsored by SNB Capital, is poised to provide top-tier financial market training to aspiring portfolio managers in Saudi Arabia. With a commitment to setting the benchmark for portfolio management practices in the Saudi market, this educational endeavor is expected to play a pivotal role in the advancement and strengthening of Saudi Arabia’s financial markets.

Abdulmajeed Alhagbani, the Head of Securities Investment at PIF, emphasized the pivotal role of the asset management sector in efficient capital allocation and risk management, both crucial for economic growth and stability. He underlined, “High-quality professional support, talent, and capital are critical enablers of the asset management industry. PIF’s contributions underscore its dedication to enhancing access to Saudi Arabia’s asset management sector, enhancing its resilience, depth, and overall quality.”

The PIF Asset Management Forum served as a gathering of prominent figures in the global asset management industry, providing a platform for discussions on essential topics and the promotion of industry best practices. This year’s forum featured insightful conversations on the importance of partnerships, collaborations, and PIF’s framework for institutionalizing and advancing Saudi Arabia’s asset management industry.

Notable highlights included a fireside chat between Capital Market Authority Governor Mohammed ElKuwaiz and PIF Deputy Governor and Head of MENA Investments Yazeed Alhumied.

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