Saudi PIF, SAMA Foreign Holdings among largest sovereign wealth funds

Saudi Arabia’s Public Investment Fund (PIF) is now the world’s 13th largest sovereign wealth fund with assets amounting to $160 billion by the end April, the Sovereign Wealth Fund Institute (SWFI) said in its latest report.

The PIF secured its ranking after gaining $154.7 billion since the end of last year.

The kingdom’s SAMA Foreign Holdings fund, which placed fourth on the list, saw its assets fall by $36.3 billion over the same period to $632.3 billion.

Meanwhile, the Abu Dhabi Investment Authority (ADIA) ranked second on the list with $773 billion worth of assets.

The Kuwait Investment Authority (KIA) claimed the fifth spot with assets valued at $592 billion, while the Qatar Investment Authority (QIA) ranked ninth with $256 billion.

Norway's Government Pension Fund maintained its lead as the world's largest sovereign wealth fund. Its assets reached $847.6 billion in April, compared to $824.9 billion by the end of 2015.

China Investment Corporation took the third place with assets amounting to $746.7 billion.

The report also revealed that total assets of the world’s largest sovereign wealth funds had increased by 1 percent to $7.27 trillion during the first four months of 2016.