Saudi Public Investment Fund ranks 5th with worth $620bn

MG News | April 24, 2023 at 07:58 PM GMT+05:00

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April 24, 2023 (MLN): The ranking of Saudi Arabia’s Public Investment Fund (PIF) has improved from sixth to fifth place among the largest sovereign funds in the world for the first time, with assets valued at SR2.3 trillion ($620 billion).

The fund’s share of the world’s sovereign wealth has increased to 6.2%, up from 5.9%, according to Arab News.

Since the launch of Saudi Vision 2030 in 2016, PIF’s assets have increased in value by 308% They amounted to $152 billion at the end of 2015, it added.

Elsewhere, Norway’s Government Pension Fund Global maintained its top position in the list, with assets standing at $1.47tr, followed by the China Investment Corporation, with assets of $1.2tr.

Third in the ranking is the Kuwait Investment Authority, with assets of $737bn, then the Abu Dhabi Investment Authority with assets of $697bn, it noted.

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