Saudi PIF ranks 7th among world’s top SWFs with $430 bln assets

Saudi Arabia’s Public Investment Fund (PIF) moved up to the 7th position among the world’s largest sovereign wealth funds (SWFs) for June 2021, recent data from SWF Institute showed.

The Kingdom’s sovereign wealth fund assets increased by $30.55 billion to $430 billion, compared to $399.45 billion in May 2021.

The PIF targets to double its assets volume by 2025 to exceed SAR 4 trillion, equivalent to $1.066 trillion. Also, Crown Prince Mohammed bin Salman recently stated that the fund aims to boost its assets to SAR 10 trillion, equivalent to $2.7 trillion, in 2030.

Elsewhere, Norway’s Government Pension Fund Global maintained its top position in the list with assets standing at $1.289 trillion.

China Investment Corporation (CIC) came in second with $1.045 trillion worth of assets.

It was followed by Abu Dhabi Investment Authority, with $649.2 billion worth of assets.

The combined assets of the 88 sovereign wealth funds hit $7.83 trillion.

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