Saudi Arabia-oriented Exchange-Traded Fund (ETF) goes live on SGX (Singapore Exchange)

In a significant move for the Singapore Exchange (SGX), the SPDR® J.P. Morgan Saudi Arabia Aggregate Bond UCITS ETF has been listed on SGX Securities. This marks the first Saudi Arabia-focused exchange-traded fund (ETF) on the platform, increasing the total number of ETFs listed on SGX to 49.

The ETF, which tracks the J.P. Morgan Saudi Arabia Aggregate Bond Index, provides exposure to liquid, USD-denominated and SAR-denominated government and quasi-government bonds, including Sukuk. This listing is expected to attract international investors, capitalizing on the strengthening investment ties between Singapore and Saudi Arabia.

Anna Paglia, Executive Vice President and Chief Business Officer at State Street Investment Management, expressed her excitement about the ETF's potential to attract international investors. She noted, "This listing on SGX is a significant milestone, offering global investors an opportunity to gain exposure to the Saudi Arabian fixed income market, which has emerged as a compelling asset class for portfolio diversification and yield enhancement."

The listing of the SPDR® J.P. Morgan Saudi Arabia Aggregate Bond UCITS ETF on SGX is facilitated by SGX's connectivity with Euroclear's ICSD ETF model. The ICSD ETF model enables seamless cross-border settlement of ETFs between Europe and Asia, making global investing simpler and more efficient.

The ETF's listing comes after its initial launch on Deutsche Börse in December 2024 and subsequent cross-listing in London and Milan. Notably, the Public Investment Fund (PIF) of Saudi Arabia made a strategic investment of US$200 million in the ETF in January 2025, marking strong institutional interest in the fund.

With the combined assets under management (AUM) on SGX exceeding S$15 billion after the SPDR® J.P. Morgan Saudi Arabia Aggregate Bond UCITS ETF's listing, SGX reinforces its role as Asia's most international multi-asset exchange. Ng Yao Loong, Head of Equities at SGX Group, stated that the listing is a meaningful expansion of SGX's fixed income products and paves the way for broader investor access to the Gulf Cooperation Council (GCC) region.

As of March 31, 2025, the GCC bond markets have collectively reached over US$1 trillion in size, underscoring the potential of the SPDR® J.P. Morgan Saudi Arabia Aggregate Bond UCITS ETF to provide valuable investment opportunities for global investors. The listing on SGX is a testament to the growing interest in the Saudi Arabian fixed income market and the potential for continued growth in the region.