PIF’s Assets Under Management Surge to $3.47 Trillion
The fund also achieved an average annual shareholders' return of 8.7%.
Saudi Arabia’s Public Investment Fund (PIF) reported assets under management (AuM) of over $3.47 trillion by July 2024, up from SR2.871 trillion ($765 billion) at the end of 2023. The fund also achieved an average annual shareholders' return of 8.7%, reflecting its role in supporting the Kingdom’s economic diversification as part of the Saud Vision 2030.[1]
The annual report indicates a 29% increase in total AuM, with international investments rising by 14.3% to SR586 billion. Domestically, PIF’s activities have resulted in over 730,000 direct and indirect jobs, growing to more than 763,000 by early 2024.
PIF’s investment portfolio covers various sectors, including energy 23.1%, real estate 17.0%, information technology 9.4%, and financials 7.3%. The Saudi Sector Development (SSD) pool, which focuses on domestic industry growth, saw a 101% increase in AuM in 2023.
Looking ahead, PIF plans to contribute SAR 1.2 trillion ($320 billion) to non-oil GDP, create 1.8 million jobs, and attract SAR 1.2 trillion in investment across strategic sectors by 2025.
The PIF announced before that it doubled its total revenues hitting SAR331 billion ($88.23 billion) last year, climbing from SAR165 billion ($43.98 billion) in 2022. This surge was driven by a growth in the market value of its investment portfolio.