Hassana and State Street Global Advisors Sign MoU for Saudi ETF Collaboration

Deal News | Jan 23, 2025 | Zawya

Hassana Investment Company and State Street Global Advisors signed a Memorandum of Understanding (MoU) to explore the joint development of a Saudi fixed income Exchange-Traded Fund (ETF). This collaboration seeks to leverage both companies’ expertise to give investors more access to the Saudi capital markets, contributing to Vision 2030’s goal of economic transformation. Witnesses to this agreement include Mr. Ahmed W. Alqahtani of Hassana, Ms. Ann Prendergast, and Majed Al Hassoun from State Street. This partnership intends to capitalize on Saudi Arabia’s ongoing economic reforms, providing investors with growth and diversification opportunities. State Street Global Advisors brings its legacy of innovation in ETFs dating back to 1993, while Hassana oversees the robust assets of one of the largest pension funds in the world. Both firms agree this initiative supports the development of the Saudi financial ecosystem with innovative solutions tailored to new market dynamics.

Sectors

Asset Management
Exchange-Traded Funds (ETFs)
Financial Markets

Geography

Saudi Arabia – The article discusses collaboration for the Saudi fixed income ETF, making Saudi Arabia a central geographic focus.
Global – State Street Global Advisors operates on a global scale, and the ETF developments have potential international investment implications.

Industry

Asset Management – Both Hassana and State Street Global Advisors are major players in the asset management industry, focusing on providing diverse investment products.
Exchange-Traded Funds (ETFs) – The collaboration focuses on developing a Saudi fixed income ETF, highlighting the relevance of the ETF sector.
Financial Markets – The partnership aims to boost Saudi Arabia's financial markets by introducing new investment solutions, relevant to the financial services industry.

Financials

SAR 1.2 trillion (US$300 billion) – Assets under management by Hassana, representing its significant scale and capacity.
US$4.72 trillion – Assets managed by State Street Global Advisors, reflecting its major global presence and influence in asset management.

Participants

Name	Role	Type	Description
Hassana Investment Company	Target Company	Company	Hassana manages Saudi Arabia's General Organization for Social Insurance's assets, focusing on long-term investments.
State Street Global Advisors	Collaborative Partner	Company	A global asset manager known for its pioneering work in ETFs, bringing extensive international experience.
Ahmed W. Alqahtani	CIO of Regional Markets at Hassana	Person	A key figure in the agreement from Hassana, instrumental in fostering the partnership.
Ann Prendergast	Head of EMEA for SSGA	Person	Represents State Street Global Advisors in the EMEA region, involved in the advancement of the partnership.
Majed Al Hassoun	CEO of State Street Saudi Arabia Financial Solutions	Person	Integral to the local facilitation of the collaboration between the two companies.