• PIF Managers Gate is a digital platform enabling seamless communication between PIF and external fund managers
  • The Portfolio Management Development Program is a comprehensive education program delivered in partnership with IE University

RIYADH: – The Public Investment Fund (PIF) has announced two initiatives to support the development of Saudi Arabia’s asset management industry on the sidelines of the Future Investment Initiative (FII7) in Riyadh. The announcements, made at PIF’s inaugural Asset Management Forum, included the PIF Managers Gate Platform and the Portfolio Management Development Program.

The PIF Managers Gate 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. It will promote growth in the asset management ecosystem by exploring potential opportunities and facilitating PIF’s seamless collaboration with fund managers.

PIF also announced the Portfolio Management Development Program, a comprehensive educational program delivered in partnership with IE University, and sponsored by SNB Capital, that will provide financial market training of the highest quality to aspiring portfolio managers in Saudi Arabia. The program is dedicated to setting a high standard for portfolio management practices within the Saudi market and will play a crucial role in the development and advancement of financial markets in Saudi Arabia.

Abdulmajeed Alhagbani, Head of Securities Investment at PIF, said: “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 announcements demonstrate PIF’s steadfast commitment to the Saudi asset management industry and will support the further development of the industry as well as improving the resilience, depth and quality of Saudi Arabia’s capital markets.”

The PIF Asset Management Forum brings together key players in the global asset management industry to discuss critical issues, and further support industry best practices. This year’s forum explored the importance of partnership, collaboration, and PIF’s framework to institutionalize and develop Saudi Arabia’s asset management industry in a series of panel discussions as well as a fireside chat between His Excellency, Capital Market Authority Governor, Mohammed ElKuwaiz and PIF Deputy Governor and Head of MENA Investments, Yazeed Alhumied.

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ABOUT PIF

The Public Investment Fund (PIF) is one of the largest and most impactful sovereign wealth funds in the world. Since 2015, when the Board was reconstituted and oversight transferred to the Council of Economic and Development Affairs, the Fund’s board of directors has been chaired by His Royal Highness Crown Prince Mohammad bin Salman bin Abdulaziz, Prime Minister, Chairman of the Council of Economic and Development Affairs, and Chairman of the Public Investment Fund. PIF a leading role in advancing Saudi Arabia’s economic transformation and diversification, as well as contributing to shaping the future of the global economy. Since 2017, PIF has established 90 companies. PIF is building a diversified portfolio by entering into attractive and long-term investment opportunities in 13 strategic sectors in Saudi Arabia and globally.

PIF's strategy, as set out in the PIF Program 2021-2025 - one of the Vision 2030 realization programs - aims to enable many promising sectors and contribute to increasing local content by creating partnerships with the private sector, in addition to injecting at least 150 billion riyals annually into the local economy. PIF works to transfer technologies and localize knowledge to build a prosperous and sustainable economy domestically. As the investment arm Saudi Arabia, PIF looks to make unique investments, and is building strategic alliances and partnerships with prestigious international institutions and organizations, which contribute to achieving real long-term value for Saudi Arabia, in line with the objectives of Vision 2030. PIF has also created an operational governance model that reflects its main tasks and objectives, in line with best international practices. Applying this model of governance enhances the level of transparency and effectiveness in decision-making and future progress.

More information about PIF can be found at: www.pif.gov.sa    

Media Contact: media@pif.gov.sa  

John Greenway
Senior Vice President

Teneo
Office 405, Gate Precinct Building 5
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E: john.greenway@teneo.com
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This material is distributed by Teneo Strategy LLC on behalf of the PIF. Additional information is available at the Department of Justice, Washington, DC.