The Saudi Public Investment Fund (PIF) ranked 9th among the world’s largest sovereign wealth funds (SWFs) by the end of May 2020 with a net worth of $360 billion, recent data from SWF Institute showed.
The Kingdom’s sovereign wealth fund had $320 billion in assets, according to the previous data of the SWF institute.
Saudi Arabia’s Minister of Finance and Acting Minister of Economy and Planning, Mohammed Al-Jadaan, said that the Saudi Arabian Monetary Authority (SAMA) has transferred exceptional SAR 150 billion ($40 billion) of FX reserves to the Public Investment Fund (PIF) last March and April.
Elsewhere, Norway’s Government Pension Fund Global maintained its top position in the list with assets standing at $1.186 trillion.
China Investment Corporation (CIC) came in second with $940.6 billion worth of assets.
It was followed by Abu Dhabi Investment Authority ($579.6 billion) and Kuwait Investment Authority (KIA) with $533.7 billion worth of assets.
The aggregate assets of the 93 sovereign wealth funds hit $8.23 trillion.
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World’s Largest Sovereign Wealth Funds |
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Ranking |
Fund |
Country |
Asset ($ bln) |
|
|
1 |
Government Pension Fund - global |
Norway |
1186.7 |
|
|
2 |
China Investment Corporation |
China |
940.6 |
|
|
3 |
Abu Dhabi Investment Authority |
UAE |
579.6 |
|
|
4 |
Kuwait Investment authority |
Kuwait |
533.7 |
|
|
5 |
Hong Kong Monetary Authority Investment Portfolio |
China |
528.1 |
|
|
6 |
Government of Singapore Investment Corporation (GIC Private Ltd) |
Singapore |
440.0 |
|
|
7 |
SAFE Investment Company |
China |
417.8 |
|
|
8 |
Temasek Holdings |
Singapore |
375.4 |
|
|
9 |
Public Investment Fund |
Saudi Arabia |
360.0 |
|
|
10 |
National Social Security Fund |
China |
325.0 |
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