National Development Fund signs SAR12 billion MoU with Northern Trust to enhance investment management

📷SPA

RIYADH, November 19, 2025 (Saudi Arabia Breaking News) – The National Development Fund (NDF) has signed a memorandum of understanding (MoU) with global financial services firm Northern Trust worth up to SAR12 billion, during the Saudi–U.S. Investment Forum.

The MoU aims to develop domestic and international investment strategies and establish a future commitment for Northern Trust to provide investment management services, including the management of global passive equity investments. NDF said the agreement supports financial sustainability and advances national development goals as part of broader efforts to enhance asset management efficiency and diversify global investments.

The fund stated that the MoU includes appointing Northern Trust as the custodian of NDF’s assets, enabling the firm to provide asset transition management services in accordance with international best practices in risk management and operational efficiency.

The agreement also designates Northern Trust as the manager of a global equity portfolio on behalf of the fund, with the objective of maximizing investment efficiency and achieving sustainable long-term returns.

A joint working group will be established to develop an implementation plan and mechanisms to activate the MoU’s provisions. The group will also explore opportunities to develop innovative investment products that support portfolio diversification and strengthen asset management across the funds and development banks supervised by the National Development Fund.