{"id":549788,"date":"2022-09-29T04:00:42","date_gmt":"2022-09-29T04:00:42","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/29\/pif-opens-up-its-finances-for-the-first-time-as-it-takes-green-bond-to-market\/"},"modified":"2022-09-29T04:00:42","modified_gmt":"2022-09-29T04:00:42","slug":"pif-opens-up-its-finances-for-the-first-time-as-it-takes-green-bond-to-market","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/29\/pif-opens-up-its-finances-for-the-first-time-as-it-takes-green-bond-to-market\/","title":{"rendered":"PIF opens up its finances for the first time as it takes green bond to market"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>The PIF has offered potential investors a look at its finances as it takes its first green bond to <\/strong><strong>market<\/strong>, according to the <a href=\"https:\/\/www.wsj.com\/articles\/saudi-sovereign-wealth-fund-reveals-finances-for-first-time-ahead-of-bond-sale-11664355559?mod=hp_lead_pos12\">Wall Street Journal<\/a>, which got hold of a copy of the prospectus. The USD 606 bn sovereign wealth fund revealed that its total shareholder returns averaged 12% annually in the past five years, since Crown Prince Mohammed bin Salman took control of the fund in 2017. In the same period, \u201cthe total return on the S&P 500 index is roughly 60%, while the Saudi stock market index, where the PIF has the bulk of its portfolio, is up 52%,\u201d the WSJ writes.<\/p>\n<p><strong>Other facts about PIF<\/strong>, drawn from the Journal story:<\/p>\n<ul>\n<li>The fund returned about 3% per year before MbS revamped it;<\/li>\n<li>PIF has assets under management of about USD 606 bn;<\/li>\n<li>69% of assets are in Saudi and the GCC;<\/li>\n<li>It has created more than 500k jobs since MbS became involved;<\/li>\n<li>It has deployed USD 2 bn in capital in infrastructure, manufacturing, logistics and retail in a co-investment agreement with Russia\u2019s SWF.<\/li>\n<\/ul>\n<p><strong>PIF is a major investor in Egypt: <\/strong>The fund has pledged to invest some USD 10 bn in Egyptian companies as part of Saudi efforts to support our external position, which has been rocked by soaring commodity prices. It has already <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/316415e5-ccc3-42ca-b442-80dd3b8b2e16\">acquired minority stakes<\/a> in four EGX-listed companies for USD 1.3 bn, and has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/358b6591-3db7-4fa1-bb2f-de2e69e31cc8\">set up an investment arm<\/a> in Egypt to facilitate investments in the country. The fund is looking to invest in the infrastructure, real estate, healthcare, financial services, food and agriculture, manufacturing and pharma sectors.<\/p>\n<hr class=\"grey-line\">\n<p><strong>More Asian nations are acting to prevent a currency crisis:<\/strong> A growing number of Asian nations are intervening to support their currencies as the relentless rise of the USD sends tremors through the region. South Korea became the latest country to act yesterday, announcing it would buy as much as USD 2.1 bn worth of sovereign bonds, while Taiwanese officials are considering introducing FX controls and imposing a ban on shorting stocks. This follows <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/5030ad37-1031-4282-97d6-4c08bffa263e\">moves<\/a> by Japan last week and China on Monday to curb the decline in their currencies: the CNY <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-09-28\/offshore-yuan-falls-to-all-time-low-on-hawkish-fed-rhetoric?sref=mmeFTDW1\">hit its lowest level against the USD since 2008<\/a> yesterday while the JPY is at its weakest since 1998.<\/p>\n<p><strong>But the interventions are not expected to end Asian assets\u2019 downward trend<\/strong> and \u201cwill only help to slow the decline,\u201d as a strong USD and \u201crelatively low real rates\u201d across Asia will continue causing pressure, one senior emerging-markets analyst told the business newswire.<\/p>\n<p><strong>ALSO WORTH KNOWING-<\/strong> <strong>A group of Wall Street banks and brokerages have been fined a combined USD 2.1 bn <\/strong>after employees were found to have sent texts over unauthorized messaging apps. (<a href=\"https:\/\/www.sec.gov\/news\/press-release\/2022-174\">Securities and Exchange Commission<\/a> | <a href=\"https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/8599-22\">Commodity Futures Trading Commission<\/a>)<\/p>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table table-striped markets-table'>\n<tbody>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>9,702<\/p>\n<\/td>\n<td>\n<p>-1.2% (YTD: -18.8%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 19.45<\/p>\n<\/td>\n<td>\n<p>Sell 19.58<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 19.5<\/p>\n<\/td>\n<td>\n<p>Sell 19.56<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>11.25% deposit<\/p>\n<\/td>\n<td>\n<p>12.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>11,170<\/p>\n<\/td>\n<td>\n<p>+1.4% (YTD: -1.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>9,776<\/p>\n<\/td>\n<td>\n<p>+0.4% (YTD: +15.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,343<\/p>\n<\/td>\n<td>\n<p>-0.9% (YTD: +4.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>3,719<\/p>\n<\/td>\n<td>\n<p>+2.0% (YTD: -22.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,005<\/p>\n<\/td>\n<td>\n<p>+0.3% (YTD: -5.1%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td>\n<p>3,335<\/p>\n<\/td>\n<td>\n<p>+0.2% (YTD: -22.4%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 89.26<\/p>\n<\/td>\n<td>\n<p>+3.5%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 6.87<\/p>\n<\/td>\n<td>\n<p>+3.3%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,670.00<\/p>\n<\/td>\n<td>\n<p>+2.1%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 19,623<\/p>\n<\/td>\n<td>\n<p>+3.4% (YTD: -57.7%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><strong>THE CLOSING BELL-<\/strong><\/p>\n<p><strong>The EGX30 fell 1.2% at yesterday\u2019s close<\/strong> on turnover of EGP 449.09 mn (52.6% below the 90-day average). Foreign investors were net sellers. The index is down 18.8% YTD.<\/p>\n<p><strong>In the green: <\/strong>Ibnsina Pharma (+1.7%), GB Auto (+1.5%) and CIRA (+1.2%).<\/p>\n<p><strong>In the red: <\/strong>e-Finance (-3.6%), Qalaa Holdings (-2.7%) and Madinet Nasr Housing (-2.5%).<\/p>\n<p><strong>Asian markets are rebounding this morning after yesterday\u2019s sell-off<\/strong>, with shares in China, Japan and South Korea all comfortably in green. US futures are trading lower this morning after stocks broke their six-day losing streak on the back of emergency moves by the Bank of England to calm concerns about the government\u2019s tax plans.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The PIF has offered potential investors a look at its finances as it takes its first green bond to market, according to the Wall Street Journal, which got hold of a copy of the prospectus. The USD 606 bn sovereign wealth fund revealed that its total shareholder returns averaged 12% annually in the past five [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7210],"tags":[2495,2494,72,119,224,1324,1389,122,219,112],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-549788","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-asian-markets","tag-bank-of-england","tag-enterpriseam","tag-financial-markets","tag-green-bonds","tag-moodys","tag-pif","tag-planet-finance","tag-saudi-arabia","tag-uk","wpautop","entry"],"acf":{"mongo_id":"7d156bef-29d4-4ce0-bafa-a5bf611f0a5a","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[549769],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>PIF opens up its finances for the first time as it takes green bond to market - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/29\/pif-opens-up-its-finances-for-the-first-time-as-it-takes-green-bond-to-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PIF opens up its finances for the first time as it takes green bond to market\" \/>\n<meta property=\"og:description\" content=\"The PIF has offered potential investors a look at its finances as it takes its first green bond to market, according to the Wall Street Journal, which got hold of a copy of the prospectus. 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Al Shorouk reported on\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/193.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":617267,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/19\/ksas-public-investment-fund-is-reportedly-in-talks-to-acquire-saudia\/","url_meta":{"origin":549788,"position":2},"title":"KSA\u2019s Public Investment Fund is reportedly in talks to acquire Saudia","author":"enterpriseam admin","date":"19 March 2024","format":false,"excerpt":"The move would see PIF consolidating Saudia within its growing aviation portfolio","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1552.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577575,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/28\/does-pif-want-more-of-eipico\/","url_meta":{"origin":549788,"position":3},"title":"Does PIF want more of EIPICO?","author":"enterpriseam admin","date":"28 November 2022","format":false,"excerpt":"Among the other stories we\u2019re paying attention to this morning:PHARMA- EIPICO says it hasn\u2019t been formally told Saudi\u2019s PIF wants to up its stake: EIPICO IR Manager Abdel Raheem Ghareeb tells us that the company has not received any official notice that Saudi Arabia\u2019s Public Investment Fund (PIF) intends to\u2026","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/451.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":620875,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/28\/pif-in-talks-to-get-a-piece-of-local-agriculture-firm-daltex\/","url_meta":{"origin":549788,"position":4},"title":"PIF in talks to get a piece of local agriculture firm Daltex","author":"enterpriseam admin","date":"28 May 2024","format":false,"excerpt":"The sovereign fund wants a minority stake in Daltex through a capital increase","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2172.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":617683,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/26\/saudi-arabias-pif-solidifies-position-in-us-ev-maker-lucid-with-additional-usd-1-bn-stake\/","url_meta":{"origin":549788,"position":5},"title":"Saudi Arabia\u2019s PIF solidifies position in US EV maker Lucid with additional USD 1 bn stake","author":"enterpriseam admin","date":"26 March 2024","format":false,"excerpt":"A share of the proceeds will finance Lucid\u2019s capex and working capital","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2300.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/549788","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=549788"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/549788\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/549769"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=549788"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=549788"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=549788"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=549788"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=549788"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}