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SNB Capital launches Global Megatrends Fund
SNB Capital, Saudi Arabia’s largest asset manager, has announced the launch of its open-ended, actively managed Global Megatrends Fund, which will invest in future-focused industries with the digital transformation, sustainable investments, and rapid urbanisation agenda currently at the centre of its mandate.
The fund’s investment mandate is to outperform global equities by accessing these exciting investment opportunities with long term positive impacts on the domestic and global economy, which supports the objectives of Vision 2030 to drive capital towards sustainable investments.
With this dedicated focus on positive sustainability characteristics, the fund also provides local investors with an exposure to the rapidly growing universe of sustainable and ESG investing, which according to a Bloomberg report on investment trends is expected to exceed $53 trillion by 2025, representing more than a third of the $140.5 trillion in projected total assets under management.
The actively managed global equity fund will identify opportunities to capture potential earnings growth and share price performance available in several rapidly growing global sectors during this period of major technological transformation. These include sectors such as electric cars, renewable energy, as well as digital transformation, to keep the fund's investments in line with technological developments and innovations in the global economy.
The focus on disruptive industries also gives local investors an opportunity to diversify their portfolios through investing in long term global trends with complementary sector and regional exposures, while benefitting from the SNB Capital’s asset management expertise that provides access to a broad range of equity instruments and unique opportunities.
Rashed Sharif, Chief Executive Officer at SNB Capital, said: "The launch of our Global Megatrends fund serves to underscore our broad ambitions to provide increased access to global opportunities that support the transformation of the global economy. As the leading asset manager in Saudi Arabia, one of the fastest growing G20 countries, we are committed to innovation and identifying opportunities in new industries and technologies that will augment the future of the economy and daily lives. This fund provides our clients with a unique opportunity to access a best-in-class product that supports diversification and sustainability.”
The SNB Capital Global Megatrends Fund is aimed at both institutional and retail investors, and potential investors are invited to view more information on the Fund Here.
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SNB Capital launches SAR 1 billion fund offering exposure to new real estate projects in Diriyah.
SNB Capital, the largest asset manager in Saudi Arabia, in collaboration with Al-Shegrey Investment Group, has launched the Al-Ahli Al-Basateen Real Estate Fund, that will provide investors with exposure to key office and commercial real estate projects in the Al-Basateen District of Diriyah governate.
The SAR 1 billion fund is linked to two projects located on King Khalid Road and Imam Saud bin Faisal Road, both being developed by Al-Basateen Real Estate Company. Al-Basateen Offices covers an area of 25,072 square meters, offering over 30,000 square meters of office space. Palm Sultana, meanwhile, covers an area of 10,326 square meters, and will provide up to 13,000 square meters of commercial and office rental spaces.
"We are proud of this partnership, which represents a new milestone in developing unique and high-quality projects that cater to the growing demand for the office and the commercial sectors in Riyadh,” said Abdulaziz Khalid Al-Shegrey, CEO of Al-Basateen Company. “This project will serve as an exemplary model for the integration of modern designs, cultural identity, and the authentic architectural heritage of the Kingdom. We aim to leverage the plentiful opportunities opened by Saudi Vision 2030 to enhance the real estate sector and elevate its products."
The launch of the new fund is a response to the growing demand for high quality office and commercial real estate in the capital city, which has helped to make the Kingdom’s real estate sector one of the most dynamic in the region.
“This step is motivated by our deep belief in the importance of empowering and developing the real estate sector, which is witnessing a remarkable boom as one of the promising sectors with an essential role in achieving the goals of Saudi Vision 2030. It also reflects our commitment to empowering investors and providing them with the skills and investment products necessary to achieve growth and prosperity, and we are proud to be an active element in this project,” said SNB Capital CEO, Rashed Sharif.
Closing of Saudi Aramco Fully Marketed Secondary Offering
SNB Capital announces the successful completion of the secondary public offering of shares of Saudi Aramco, the largest secondary offering in EMEA since the year 2000 and the largest ECM offering in the Middle East, after the Company’s own IPO in 2019.
The 1.545 billion shares, representing approximately 0.64% of the company’s issued shares, drew noticeable level of local and international demand highlighting the significant interest in Saudi Aramco track record of operational and financial excellence and the growing recognition of its competitive strength and long-term prospects. The sale raised SAR 42.10 billion (USD 11.23 billion) prior to the Over-allotment option, which if exercised in full, will increase the size to SAR 46.31 billion (USD 12.35 billion). The final offer price for both institutional and retail investors was set at SAR 27.25 (USD 7.26).
SNB Capital acted as the lead manager and also as a joint global coordinator with Citigroup Saudi Arabia, Goldman Sachs Saudi Arabia, HSBC Saudi Arabia, J.P. Morgan Saudi Arabia Company, Merrill Lynch Kingdom of Saudi Arabia, Morgan Stanley Saudi Arabia, with M. Klein & Company and Moelis & Company UK LLP acting as Independent Financial Advisors for the Offering.
