PIF introduced two game-changing initiatives aimed at fostering the growth of Saudi Arabia's asset management industry

At the Future Investment Initiative (FII7) in Riyadh, the Public Investment Fund (PIF) created a stir by announcing two revolutionary programmes designed to support the expansion of the asset management sector in Saudi Arabia. The PIF Managers Gate Platform and the Portfolio Management Development Programme were highlighted in the historic announcements that took centre stage at PIF's first Asset Management Forum.

With the launch of the PIF Managers Gate, PIF and outside fund managers may now work together on a state-of-the-art digital platform. The digitalization of operational and investment due diligence procedures, improved communication lines, and safe data exchange are all promised by this platform. Its main objective is to streamline PIF's interaction with fund managers and find chances for growth within the asset management ecosystem.

The Portfolio Management Development Programme, a comprehensive educational effort funded by SNB Capital and offered in collaboration with IE University, was also strategically introduced by PIF. This programme is set up to provide aspiring portfolio managers in Saudi Arabia with elite financial market training. As part of its mission to establish the benchmark for portfolio management techniques in the Saudi market, this educational project is expected to be crucial to the development and strengthening of Saudi Arabia's financial markets.

Abdulmajeed Alhagbani, PIF's head of securities investment, stressed the importance of the asset management sector in effective risk management and capital allocation, which are essential for stability and economic progress.

Leading figures in the worldwide asset management space convened at the PIF Asset Management Forum, where they discussed important issues and promoted industry best practises. The event this year included topics such as the value of cooperation and partnerships as well as PIF's framework for institutionalising and developing Saudi Arabia's asset management sector. A fireside conversation between PIF Deputy Governor and Head of MENA Investments Yazeed Alhumied and Capital Market Authority Governor Mohammed ElKuwaiz was one of the highlights.