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Saudi PIF Assets Surpass 2.23 Trillion Riyals in 2022

Saudi PIF Assets Surpass 2.23 Trillion Riyals in 2022

The Saudi Public Investment Fund (PIF) announced on Sunday that its assets under management (AUM) had surpassed 2.23 trillion Saudi Riyals ($594.43 billion) in 2022.

This represents a 12% increase from the fund’s AUM of 1.98 trillion Riyals in 2021.

The PIF’s growth in 2022 was driven by a number of factors, including strong performance from its international investments, as well as its continued investment in the Saudi economy. The fund’s international investments generated a total return of 10.5% in 2022, while its local investments generated a total return of 6.5%.

The PIF also made a number of significant investments in the Saudi economy in 2022. These included investments in the NEOM megaproject, the Saudi Stock Exchange, and the new Riyadh Air airline.

The fund also committed to investing $10 billion in the development of the Red Sea Project, a luxury tourism development on the Red Sea coast.The PIF’s growth in 2022 is a sign of the fund’s continued importance to the Saudi economy.

The fund is seen as a key driver of Saudi Arabia’s economic diversification and its efforts to reduce its reliance on oil. The PIF is also expected to play a major role in the implementation of Saudi Vision 2030, the kingdom’s ambitious economic reform plan.In a statement, the PIF’s CEO, Yasir Al-Rumayyan, said that the fund was “committed to investing for the long term and to creating sustainable value for the Saudi people.”

He added that the fund would continue to invest in a diversified portfolio of assets, both domestically and internationally.


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