PIF assets rise to $650 bln

10/04/2023 Argaam Special

PIF assets rise to $650 bln

Logo of Public Investment Fund


The Public Investment Fund (PIF) remained in the sixth position among the world’s largest sovereign wealth funds (SWFs) in 2022 with a net worth of $650 billion, compared to $607.42 billion a year earlier, recent data from SWF Institute showed.

 

The Kingdom’s sovereign wealth fund aims to double its assets to over 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 $1.35 trillion assets, followed by China Investment Corp.

 

The aggregate assets of the world’s SWFs hit $10.47 trillion, up from $10.30 trillion a year earlier.

 

The following table shows the world’s top 10 sovereign wealth funds:

 

World’s Largest Sovereign Wealth Funds

Ranking

Fund

Country

Assets ($ bln)

2022-end

Assets ($ bln)

2022-end

Change

1

Government Pension Fund - global

Norway

1136.14

1350.87

214.72

2

China Investment Corp.

China

1350.86

1350.86

--

3

Abu Dhabi Investment Authority

UAE

790.00

790.00

--

4

Kuwait Investment Authority

Kuwait

750.00

750.00

--

5

GIC Private Limited

Singapore

690.00

690.00

--

6

Public Investment Fund

Saudi Arabia

607.42

650.00

42.58

7

Hong Kong Monetary Authority Investment Portfolio

China

588.90

514.22

(74.68)

8

Temasek Holdings

Singapore

496.59

496.59

--

9

Qatar Investment Authority

Qatar

461.00

475.00

14.00

10

National Council for Social Security Fund

China

447.36

473.80

26.44

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