Northern Trust Asset Management (NTAM), a leading global investment management firm, and PIF intend to expand their relationship to include a new systematic quantitative investment strategy for the Saudi Arabian market.

The announcement rounds off joint efforts between NTAM and PIF, under the framework of a non-binding memorandum of understanding (MoU) signed in May this year, for an up to US$1 billion Saudi index strategy, which both parties are working to initiate its execution process in due course.

Made public at the PIF Asset Management Forum, held on the sidelines of the Future Investment Initiative 9th Edition (FII9) in Riyadh, the announcement underscores NTAM’s long-term commitment to Saudi Arabia in alignment with PIF to promote further growth and development in the Saudi capital market ecosystem and drive product innovation.

PIF is one of the world’s most impactful investors, accelerating the growth of Saudi Arabia’s capital market and further driving the country’s economic transformation and its impact on global markets.

The new investment strategy will apply a systematic investment process that combines data science, alternative data, and disciplined quantitative factor models to identify and capture sources of excess return in the Saudi equity market. It leverages innovation and research-driven insights to deliver consistent, risk-adjusted performance aligned with market efficiency and transparency.

“For more than 30 years, NTAM has been a pioneer in quantitative investment strategies and we are delighted to bring our innovative, data-driven investment solutions to meet the needs of institutional investors and family offices in Saudi Arabia,” said NTAM President, Michael Hunstad, Ph.D. “Through deepening our relationship with PIF, one of the world’s most impactful investors, we underscore our commitment to expanding our asset management capabilities and local presence in the dynamic Saudi financial market.”

Globally NTAM manages US$48 billion in quantitative strategies across equities and fixed income, as of September 30, 2025. Northern Trust has served clients across the Middle East for more than 35 years and earlier this year announced the expansion of its asset management footprint in Saudi Arabia.

Source: Northern Trust