This move comes as the GCC bond markets have grown to over US$1 trillion by March 2025, driven by economic reforms and diversification efforts, making Saudi bonds an increasingly attractive asset class.

Managed by State Street Investment Management, the ETF tracks the J.P. Morgan Saudi Arabia Aggregate Bond Index, including USD and SAR-denominated government and quasi-government bonds, such as Sukuk.

SGX has launched its first Saudi Arabia-focused ETF, the SPDR® J.P. Morgan Saudi Arabia Aggregate Bond UCITS ETF, opening up the Saudi bond market to Singapore investors.

Industry experts, including Anna Paglia from State Street, see Saudi bonds as increasingly attractive for diversification, with strong interest from European and Middle Eastern investors, providing Singaporean investors a new opportunity to benefit from regional economic growth.

With this listing, SGX now offers 49 ETFs with over S$15 billion in assets under management, strengthening its position as a leading international multi-asset exchange in Asia.

The ETF received a significant US$200 million strategic investment from Saudi Arabia’s Public Investment Fund in January 2025, underscoring its credibility among sovereign investors.

Launched on Deutsche Börse in December 2024, the ETF has been cross-listed in London, Milan, and now Singapore, broadening its international reach.

Ng Yao Loong from SGX emphasized that this ETF signifies a strategic expansion into GCC bond markets and aligns with Saudi Arabia’s Vision 2030 for economic diversification.