The assets of the Public Investment Fund increased by $ 42.6 billion, compared to $ 607.42 billion at the end of 2022, to reach $ 650 billion, according to the latest classification by the (SWF Institute), which specializes in the study of investments of governments and sovereign funds, thus maintaining its sixth rank among the largest sovereign wealth funds in the world. the world.
According to the fund's strategy for the next 5 years, the target is to double the size of its assets to exceed 4 trillion riyals, equivalent to $1.07 trillion, in 2025. The Crown Prince also mentioned that the target is to raise the fund's assets to 10 trillion riyals in 2030, equivalent to $2.7 trillion.
The Norwegian Government Pension Fund also ranked first as the largest sovereign fund in the world, with assets amounting to $1,350.9 billion, while the China Investment Corporation fell to second place.
While the total volume of assets of sovereign wealth funds in the world amounted to about $10.47 trillion, compared to $10.30 trillion by the end of 2022.
Okaz (Jeddah) @Okaz_online