Saudi Arabia Focussed ETF Launched on Singapore Exchange

SGX Securities, a division of Singapore Exchange (SGX), on Wednesday welcomed the listing of the SPDR® J.P. Morgan Saudi Arabia Aggregate Bond UCITS ETF, marking a significant milestone with its first Saudi Arabia-focused exchange-traded fund (ETF).

The cross-listing of this ETF provides Singapore investors with cost-efficient access to the fast-growing and deepening bond market of Saudi Arabia.

Managed by State Street Investment Management, the ETF tracks the J.P. Morgan Saudi Arabia Aggregate Bond Index, offering exposure to the performance of liquid, USD-denominated and SAR-denominated government and quasi-government bonds, including Sukuk.

The ETF was first launched on Deutsche Börse in December 2024 and subsequently cross-listed in London and Milan before its Singapore debut.

Head of Equities at SGX Group Ng Yao Loong said that they were delighted to welcome the first Saudi Arabia-focused ETF and their maiden ETF offering dedicated exposure to the Gulf Cooperation Council (GCC) bond markets.

Loong added: “This is not only a meaningful expansion of SGX’s fixed income products but also paves the way for broader investor access to the GCC region. As Saudi Arabia’s capital markets deepen and diversify in tandem with Vision 2030, SGX – together with our partners – is well-positioned to serve as a trusted gateway connecting investors to Saudi Arabia’s economic growth story.”

Anna Paglia, Executive Vice President and Chief Business Officer, State Street Investment Management, said that thanks to the efforts by GCC countries to increase the size, breadth and depth of their local and hard currency fixed income markets, Saudi Arabian bonds have become a compelling area for portfolio diversification.

“This ETF has attracted significant interest from international investors across Europe and the Middle East, and we are excited to work with SGX to bring this product to Singapore, offering local investors a unique opportunity to capitalise on the strengthening investment ties between Singapore and Saudi Arabia,” Anna said.

Since its inception, the ETF has garnered strong institutional interest including from Saudi Arabia’s Public Investment Fund (PIF). In January 2025, the PIF committed a strategic investment of $200 million, underscoring the fund’s credibility and appeal among leading sovereign investors in the product.

Growth of GCC Bond Markets

The launch comes as investor interest grows in the GCC bond markets, which have collectively reached over $1 trillion in size as of 31 March 2025.

Backed by transformative economic reforms and strategic diversification, Saudi Arabia’s fixed income market has emerged as a compelling asset class for portfolio diversification and yield enhancement.

This listing is also enabled by SGX’s connectivity with Euroclear’s revolutionary ICSD ETF model, which facilitates seamless cross-border settlement of ETFs between Europe and Asia. This critical piece of infrastructure makes global investing simpler and more efficient.

With this listing, the total number of ETFs listed on SGX rises to 49, with combined assets under management (AUM) exceeding $15 billion, reinforcing SGX’s role as Asia’s most international multi-asset exchange.