PIF assets rise to $650 bln

10/04/2023 Argaam Special
Logo of Public Investment Fund

Logo of Public Investment Fund


The Public Investment Fund (PIF) remained in the sixth position among the world’s largest sovereign wealth funds (SWFs) in 2022 with a net worth of $650 billion, compared to $607.42 billion a year earlier, recent data from SWF Institute showed.

 

The Kingdom’s sovereign wealth fund aims to double its assets to over SAR 4 trillion ($1.07 trillion) by 2025.

 

Crown Prince Mohammed bin Salman earlier said that the PIF targets to grow its assets to SAR 10 trillion by 2030 ($2.7 trillion).

 

Norway’s Government Pension Fund Global ranked first with $1.35 trillion assets, followed by China Investment Corp.

 

The aggregate assets of the world’s SWFs hit $10.47 trillion, up from $10.30 trillion a year earlier.

 

The following table shows the world’s top 10 sovereign wealth funds:

 

World’s Largest Sovereign Wealth Funds

Ranking

Fund

Country

Assets ($ bln)

2022-end

Assets ($ bln)

2022-end

Change

1

Government Pension Fund - global

Norway

1136.14

1350.87

214.72

2

China Investment Corp.

China

1350.86

1350.86

--

3

Abu Dhabi Investment Authority

UAE

790.00

790.00

--

4

Kuwait Investment Authority

Kuwait

750.00

750.00

--

5

GIC Private Limited

Singapore

690.00

690.00

--

6

Public Investment Fund

Saudi Arabia

607.42

650.00

42.58

7

Hong Kong Monetary Authority Investment Portfolio

China

588.90

514.22

(74.68)

8

Temasek Holdings

Singapore

496.59

496.59

--

9

Qatar Investment Authority

Qatar

461.00

475.00

14.00

10

National Council for Social Security Fund

China

447.36

473.80

26.44

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