TAIC & Franklin Templeton Sign $70M Gulf Wealth Bond Fund Deal

The Arab Investment Company (TAIC) announced a strategic partnership with Franklin Templeton, one of the world's largest asset management companies, to invest US$ 70 million in the Franklin Gulf Wealth Bond Fund. This investment underscores TAIC's commitment to enhancing the efficiency of its investment portfolio while achieving sustainable returns for its shareholders. The partnership was formalized during a signing ceremony held at the Future Investment Initiative (FII9) in Riyadh.

Mr. Abdullah S. Bakhraibah, Chief Executive Officer of TAIC, stated, "This agreement marks an important milestone in the company’s journey toward achieving a balanced strategic asset allocation and strengthening our ability to make comprehensive investment decisions that ensure sustainable returns for our shareholders. By aligning with a global leader like Franklin Templeton, TAIC is poised to further strengthen its position as one of the region’s leading institutional investors"

The investment in the Franklin Gulf Wealth Bond Fund reflects TAIC’s continued efforts to enhance the efficiency and diversification of its investment portfolio, while building strategic alliances with leading global asset managers such as Franklin Templeton, which will support TAIC’s growth and expansion plans.

This collaboration leverages Franklin Templeton’s extensive experience in managing fixed income portfolios across regional and international markets, drawing on the firm’s two decades of proven track record in fixed income and Sukuk under the leadership of Mohieddine Kronfol. The partnership will further strengthen TAIC’s position as a leading institutional investor in the Kingdom and the wider region.

Muneera Al Dossary, CEO of Franklin Templeton Saudi, commented, "We are delighted to partner with TAIC, reaffirming our deep commitment to our clients in the Saudi market by providing world’s class products to the region. This collaboration will enable TAIC to access our global expertise, bridging local needs with international best practices. Through this collaboration, we look forward to supporting the development of the local and regional capital markets and delivering long-term value to investors.

TAIC is a joint Arab joint-stock company owned by 16 Arab governments and headquartered in Riyadh, with investments focused on public and private markets as well as venture capital.

Franklin Templeton, a major global asset manager, has a 25-year presence in the Middle East. Renowned for its pioneering approach to emerging market investments, Franklin Templeton offers a suite of investment and research services from its Riyadh location, including MENA Fixed Income and Global Sukuk, Saudi Fixed Income, Frontier and MENA Equities, and Private Credit.