PIF among world's fastest growing sovereign funds, AUM at SAR 1.8 trln: Al-Rumayyan

Yasir Al-Rumayyan, Governor, Public Investment Fund

Saudi Arabia's Public Investment Fund (PIF) is one of the world's fastest growing sovereign funds, said Yasir Al-Rumayyan, PIF Governor.

In his speech at Saudi Budget 2022 Forum, Al-Rumayyan added that the fund's assets under management (AUM) rose to SAR 1.8 trillion, which is higher than 2021 target.

He indicated that PIF seeks to form partnerships with the private sector and localize technologies in the Kingdom.

The fund undertakes investments locally and globally, in line with its 2021-2025 strategy, Al-Rumayyan said, adding that PIF offered 400,000 direct and indirect job opportunities since 2017 until the second quarter of 2021.

PIF seeks to increase the investment opportunities for the local content, as the management is currently working to raise the fund and its subsidiaries' contribution to the local content to 60% by 2025, the governor said.