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.
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.