Saudi PIF ranks 8th among world’s top SWFs with $450 bln assets

Saudi Arabia’s Public Investment Fund (PIF) ranked 8th among the world’s largest sovereign wealth funds (SWFs) for October 2021, recent data from SWF Institute showed.

The Kingdom’s sovereign wealth fund assets increased by $20 billion to $450 billion, compared to $430 billion in June 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 $1.339 trillion.

China Investment Corporation (CIC) came in second with $1.222 trillion worth of assets.

It was followed by Kuwait Investment Authority, with $692.9 billion worth of assets.

The combined assets of the world's sovereign wealth funds hit $9.23 trillion in October, compared with $8.41 trillion in June.