PIF Anchor Investor In Saudi ETF
Posted on 12/07/2023
Saudi Aramco is the top stock in Saudia Arabia’s new ETF, and PIF is an anchor investor. The CSOP Saudia Arabia ETF is Asia’s first Middle East-focused fund. Saudi Aramco makes up 9.88% of the fund. The shares are trading out of Hong Kong. Like other ETFs, the fund tracks an index, the FTSE Saudi Arabia Index. Some say this is an indication that China and the Middle East will work together more, a potential disappointment for western leaders.