Saudi Arabia-based financial services company SICO Capital has introduced a suit of securities services products to provide its customers with new custody and fund services.

The customised products have been designed to serve the growing requirements of various local and global clients.

They allow SICO Capital to tap Saudi Arabia’s growing asset management business and diversify the company’s capital market business.

The new securities services products, along with SICO Capital’s pre- and post-trade execution tools, will help the public and private fund managers across various asset classes with middle office and performance analytics.

The products’ investor services will cover unit holder dealing, investment manager factsheets as well as improved front to back-office reporting.

SICO Capital managing director and acting CEO Fadhel Makhlooq said: “SICO’s approach has remained focused on identifying and filling market gaps with world-class solutions since its inception – a key element that has been undoubtedly translated into SICO Capital’s strategy.

“With this exciting introduction of our new securities services in Saudi Arabia, in collaboration with top-notch global providers of custody and funds service systems, we have made significant investments in terms of high caliber people and cutting-edge technology solutions to ensure that our service offerings set new standards in asset servicing arena.”

As part of SICO Capital’s partnership with American fintech firm FIS, the latter will provide fund services and alternative assets offerings, noted the Riyad-based company.

SICO Capital chief securities business officer Francis Dassou said: “As we are operating in an evolving landscape, we are also adopting block chain-based solutions and considering digital asset classes.

“We aim to be a trusted partner for asset managers and asset owners by serving their end investors’ needs today and tomorrow with our robust and scalable systems supported by a team of experienced and leading professionals.”