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Bloomberg: Saudi fund eyed $500M Gulf bonds
Saudi Arabia’s Public Investment Fund is studying increasing its allocations to fixed income assets, primarily through an initial allocation of $500 million to BGC Partners, mainly focusing on government bonds in the Gulf region. This move comes amid a decrease in the fund’s allocations to Gulf sovereign bonds due to the deterioration of the bond market following the outbreak of the Iranian conflict, where the required yield on Gulf bonds has risen by 121 basis points, with losses in Qatari and Emirati bond prices reaching 5.7% and 4.3%, respectively. The proposed allocation reflects the fund’s efforts to diversify its investments and increase exposure to fixed income assets in the region. It also marks BGC Partners’ first investment mandate, managing funds for Gulf entities such as the Saudi Central Bank and Abu Dhabi Investment Authority.
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