Logo of Public Investment Fund (PIF)
The Public Investment Fund (PIF) stated that its assets under management (AUMs) leapt 29% to SAR 2.87 trillion in 2023, from SAR 2.23 trillion a year earlier, with redeemed amounts from other entities totaling SAR 20 billion, according to the fund's 2023 report.
The fund's investments were diversified, with international and domestic investments comprising 20% (SAR 586 billion) and 76% (SAR 2.19 trillion) of its total assets, respectively.
Total shareholders return since the launch of the Vision Realization Program (VRP) –2021-2025 in September 2017 until the end of 2023 reached 8.7% (on an annual basis).
The sovereign wealth fund added 730,250 direct and indirect jobs in 2023 and established 23 companies.
Saudi sector development represented 33% of the fund’s assets, while Saudi equity holdings made up 27% of the total.
|
PIF’s Gross AUMs |
|||
|
Portfolio |
AUMs (SAR bln) |
Asset Distribution 2022 |
Asset Distribution 2023 |
|
International strategic investments |
249 |
10% |
9% |
|
International diversified pool |
146 |
5%* |
5% |
|
International capital markets program |
190 |
8% |
7% |
|
Saudi equity holdings |
777 |
32% |
27% |
|
Saudi sector development |
943 |
21% |
33% |
|
Saudi real estate & infrastructure development |
233 |
9% |
8% |
|
Saudi giga-projects |
241 |
5% |
8% |
|
Treasury (non-investment portfolio) |
72 |
9% |
3% |
The following table illustrates the development of AUMs since 2021:
|
Development of AUMs (SAR bln) |
|||
|
Portfolio |
2021 |
2022 |
2023 |
|
International strategic investments |
390 |
234 |
249 |
|
International diversified pool |
66 |
109 |
146 |
|
International capital markets program |
121 |
169 |
190 |
|
Saudi equity holdings |
483 |
718 |
777 |
|
Saudi sector development |
318 |
470 |
943 |
|
Saudi real estate & infrastructure development |
170 |
204 |
233 |
|
Saudi giga-projects |
35 |
121 |
241 |
|
Treasury (non-investment portfolio) |
397 |
204 |
71 |
|
Total |
1980 |
2234 |
2871 |
The fund's investments were distributed across a wide range of industries in 2023, based on global sector standards, as follows:
|
PIF Investments by Sector |
|
|
Sector |
Percentage |
|
Energy |
23.1% |
|
Real Estate |
17.0% |
|
IT |
9.4% |
|
Financials |
7.3% |
|
Communication Services |
6.9% |
|
Utilities |
5.5% |
|
Materials |
4.6% |
|
Industrials |
3.1% |
|
Consumer Discretionary |
2.5% |
|
Consumer Staples |
1.2% |
|
Healthcare |
0.4% |
|
Unclassified** |
18.9% |
**Represents multisector funds/mandates; call accounts; cash; term deposits; and money markets.
PIF disclosed its annual consolidated financial statements, which included its assets and subsidiaries, in line with the best practices of wealth funds and other investment entities.
The fund continues to pump more local investments, launch strategic sectors, form international partnerships, and achieve its 2021-2025 program’s goals.
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