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

10/06/2021 Argaam Special


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.

 

World’s Largest Sovereign Wealth Funds

Ranking

Fund

Country

Asset ($ bln) in May

Assets ($ bln) in June

Change

1

Government Pension Fund - Global

Norway

1289.46

1289.46

--

2

China Investment Corporation

China

1045.72

1045.72

--

3

Abu Dhabi Investment Authority

UAE

649.18

649.18

--

4

Hong Kong Monetary Authority Investment Portfolio

China

580.54

580.54

--

5

Kuwait Investment Authority

Kuwait

533.65

533.65

--

6

Government of Singapore Investment Corporation (GIC Private Ltd)

Singapore

453.20

453.20

--

7

Public Investment Fund

Saudi Arabia

399.45

430.00

30.55+

8

Temasek Holdings

Singapore

417.35

417.35

--

9

National Council for Social Security Fund

China

372.07

372.07

--

10

Investment Corporation of Dubai

UAE

301.53

301.53

--

 

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