The Arab Investment Company and Franklin Templeton sign $70 million strategic partnership for Franklin Gulf Wealth Bond Fund

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The Arab Investment Company and Franklin Templeton sign $70 million strategic partnership for Franklin Gulf Wealth Bond Fund

The Arab Investment Company (TAIC) has entered into a strategic partnership with global asset management firm Franklin Templeton, announcing a US$ 70 million investment in the Franklin Gulf Wealth Bond Fund. The agreement, signed during the Future Investment Initiative (FII9) in Riyadh, reinforces TAIC’s commitment to strengthening its investment portfolio and achieving sustainable long-term returns for its shareholders.

Abdullah S. Bakhraibah, CEO of TAIC, said the collaboration marks a key milestone in the company’s efforts to achieve balanced strategic asset allocation.

“This agreement represents an important step in enhancing our investment decision-making and ensuring sustainable returns for our shareholders. By aligning with a global leader like Franklin Templeton, we are strengthening TAIC’s position as one of the region’s leading institutional investors,” he said.

The partnership highlights TAIC’s strategy to diversify and improve the efficiency of its investment portfolio by forming alliances with global asset managers. The Franklin Gulf Wealth Bond Fund leverages Franklin Templeton’s deep expertise in fixed income and Sukuk markets, led by Mohieddine Kronfol, who brings over two decades of experience in managing regional and international portfolios.

Muneera Al Dossary, CEO of Franklin Templeton Saudi Arabia, commented:

“We are delighted to partner with TAIC, reaffirming our long-standing commitment to the Saudi market. This collaboration enables TAIC to benefit from our global expertise while supporting the continued growth of local and regional capital markets. Our goal is to deliver sustainable, long-term value to investors across the region.”

Headquartered in Riyadh, TAIC is a joint Arab stock company owned by 16 Arab governments, with diversified investments spanning public and private markets, as well as venture capital. Franklin Templeton, one of the world’s largest asset managers, has been active in the Middle East for over 25 years, offering a comprehensive range of investment services from its Riyadh office, including MENA fixed income, global Sukuk, Saudi equities, and private credit.

This collaboration marks a new chapter in fostering cross-border financial partnerships that contribute to the development of the Saudi and regional capital markets.