Saudi PIF ranks 8th among world’s top SWFs with $480 bln assets

Saudi Arabia’s Public Investment Fund (PIF) maintained its eighth position among the world’s largest sovereign wealth funds (SWFs) by 2021-end, recent data from SWF Institute showed.

The Kingdom’s sovereign wealth fund assets increased by $30 billion to $480 billion, compared to $450 billion in October 2021.

The PIF targets to double its assets volume by 2025 to exceed SAR 4 trillion, equivalent to $1.066 trillion. 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 came on top position in the list, with assets standing at $1.3393 trillion.

China Investment Corporation (CIC) came in second with $1.2223 trillion worth of assets, followed by Kuwait Investment Authority ($737.9 billion).

The combined assets of the sovereign wealth funds hit $9.53 trillion from $9.23 trillion last October.