PIF assets rise to $700 bln

The Public Investment Fund (PIF) remained in the sixth position among the world’s largest sovereign wealth funds (SWFs), after its net assets rose to $700 billion (SAR 2.635 trillion), recent data from SWF Institute showed.

PIF's assets rose by $50 billion, compared to $650 billion in April.

As per PIF's five-year strategy, it targets boosting its assets to more than SAR 4 trillion ($1.07 trillion) by 2025. Crown Prince Mohammed bin Salman earlier said that the PIF targets to grow its assets to SAR 10 trillion by 2030 ($2.7 trillion).

Norway’s Government Pension Fund Global ranked first with $1.37 trillion assets, followed by China Investment Corp.

The aggregate assets of the world’s SWFs hit about $11.57 trillion, up from $10.47 trillion in April, 2023.

Sources: Argaam