Riyadh – Sharikat Mubasher: Franklin Templeton signed a non-binding memorandum of understanding (MoU) with Saudi Arabia’s Public Investment Fund (PIF) to invest up to $5 billion in boosting the growth of the Kingdom’s capital markets.

The planned investments will target Saudi equities and fixed income strategies across both public and private markets, aiming to broaden opportunities for local and international investors, as per a recent press release.

The agreement aligns with PIF’s strategy to diversify its investment portfolio and strengthen partnerships with global financial institutions. It also supports broader efforts to develop Saudi Arabia’s financial sector and diversify its economy.

Under the MoU, both parties plan to co-develop investment strategies and products tailored to the Saudi market. Franklin Templeton will also launch knowledge-sharing programs, talent development initiatives, and innovation-focused efforts in asset management.

The MoU is subject to regulatory and internal approvals and the achievement of specific objectives. Franklin Templeton, a global asset management leader headquartered in California, has operated in the Middle East for over 25 years and opened its Riyadh office in March 2024.