BlackRock and Saudi Arabia’s PIF launch new mutual funds

LONDON/RIYADH: BlackRock and Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, have launched new mutual funds across various asset classes managed by the US asset manager and focused on Saudi equities and Middle East and North Africa fixed income.

Both global and local investors can invest in the products through BlackRock Riyadh Investment Management (BRIM), an investment platform launched in 2024. “BlackRock’s Middle East investment offerings now span multiple public and private market asset classes, including infrastructure, helping to deepen Saudi Arabia’s capital markets and support the Saudi Vision 2030 objectives,” the companies said in a joint statement Wednesday.