Japan's Mizuho to launch Saudi stock ETF with sovereign fund PIF

Tokyo-listed fund to offer individuals access to fast-growing market

Saudi Arabia looks to attract foreign capital as it transitions its economy away from oil. (Source photos Reuters)

YUKI SEKIGUCHI, Nikkei staff writer

November 1, 2024 00:38 JST

TOKYO -- Japan's Mizuho Financial Group is partnering with Saudi Arabia's Public Investment Fund to create a Tokyo-listed exchange-traded fund featuring Saudi shares, providing retail investors easier access to a promising emerging market.

Asset Management One, a joint venture between Mizuho and Dai-ichi Life Holdings, plans to create an ETF this fiscal year linked to the FTSE Saudi Arabia Index, a market capitalization-weighted index tracking the performance of large- and mid-cap Saudi stocks.