Assets managers in Saudi Arabia are set to receive additional support from the Public Investment Fund through two new initiatives.
The organization announced the Managers Gate Platform and the Portfolio Management Development Program on the sidelines of the Future Investment Initiative forum in Riyadh.
The first program sees the launch of a new digital platform for collaboration between PIF and external fund managers.
The portal will enable secure data sharing, improved communications, and the digitization of operational and investment due diligence processes.
The Portfolio Management Development Program is an educational program delivered in partnership with Spain-based IE University, and sponsored by SNB Capital, that will provide financial market training to aspiring managers in the industry in Saudi Arabia.
Abdulmajeed Al-hagbani, head of securities investment at PIF, said the announcements demonstrate the wealth fund’s commitment to the Kingdom’s asset management industry and will improve the resilience, depth and quality of Saudi Arabia’s capital markets.”
He added: “The asset management industry plays a vital role to support the efficient allocation of capital and management of risk in the economy, helping to promote economic growth and stability.
“High-quality professional support, talent and capital are critical enablers of the asset management industry. PIF has significantly contributed to Saudi Arabia’s asset management industry’s access.”
The PIF Asset Management Forum, held on the sidelines of the FII event, brought together key players in the industry to discuss critical issues, and further support best practices.