[PIF GLOBAL ASSET MANAGEMENT FORUM]
OPENING REMARKS

The speaker opens the PIF Global Assets Management Forum, highlighting the growth of asset management in Saudi Arabia, now exceeding 1.1 trillion Saudi Riyal. PIF's contributions to this transformation are anchored in product innovation, growing emerging managers, attracting global players, and talent development. The kingdom has attracted 75 billion Saudi Riyal in FDI through investments like the Black Rock Middle East Infrastructure Fund. New ETFs are being introduced to attract international inflows, with three ETF products launched in eight markets. Nearly three billion Saudi Riyal has been allocated to boutique managers, and the PIF managers gate now has over 100 managers registered. Twelve leading global asset managers have established operations in the kingdom. Talent development is emphasized as crucial, with partnerships like the PIF program sponsored by S&P Capital. The Saudi market's future relies on the collective efforts of regulators, policymakers, asset managers, and innovators.