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|21 October, 2018

Saudi Arabia’s PIF ranks 10th among world’s largest sovereign wealth funds

Abu Dhabi Investment Authority came in the third rank with $683 billion in assets

Image used for illustrative purpose. The view of high rises in King Abdullah Financial District in Riyadh.

Image used for illustrative purpose. The view of high rises in King Abdullah Financial District in Riyadh.

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Riyadh – Mubasher: Saudi Arabia’s sovereign wealth fund, Public Investment Fund (PIF), ranked the 10th among the world's largest sovereign wealth funds (SWFs).

PIF’s total assets stood at $360 billion, acquiring 10.8% of the world’s total value by the end of August, according to recent data revealed by the Sovereign Wealth Fund Institute (SWFI).

PIF’s assets are expected to reach $600 billion by 2020, Saudi Crown Prince Mohammed Bin Salman said.

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Saudi Arabian Monetary Authority’s (SAMA) foreign holdings came in the sixth place with total assets of $515.6 billion, representing 6.4% of the total value, data showed.

On the other hand, Abu Dhabi Investment Authority (ADIA) came in the third rank with $683 billion in assets, while Kuwait’s investment authority (KIA) acuqired the fourth spot with assets amounting to $592 billion.

Globally, Norway's Government Pension Fund topped the list of the world's largest sovereign wealth funds with total assets of $1.058 trillion, followed by China Investment Corporation.

It is worth noting that the total assets of all sovereign wealth funds recorded $8.11 trillion by the end of August.

Source: Mubasher

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