{"id":88847,"date":"2024-08-20T00:00:00","date_gmt":"2024-08-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/08\/20\/pif-assets-under-management-rose-29-to-sar-2-9-tn-in-2023\/"},"modified":"2024-08-20T00:00:00","modified_gmt":"2024-08-20T00:00:00","slug":"pif-assets-under-management-rose-29-to-sar-2-9-tn-in-2023","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/08\/20\/pif-assets-under-management-rose-29-to-sar-2-9-tn-in-2023\/","title":{"rendered":"PIF assets under management rose 29% to SAR 2.9 tn in 2023"},"content":{"rendered":"

The <\/strong>Public Investment Fund\u2019s (PIF)<\/strong> annualized return on investments since <\/strong>2017 rose to 8.7% by the end of 2023<\/strong>, according to its 2023 annual report (pdf)<\/a>. That\u2019s compared to the 8% annualized return rate the fund recorded at the end of 2022. <\/p>\n

PIF\u2019s assets under management rose 29% y-o-y to SAR 2.9 tn by the end of 2023<\/strong>, it said in the report. Some 76% of these assets are in local investments, while 20% are international investments, and 3% of its portfolio is in treasuries. The majority of the fund\u2019s AUM (85%) are managed internally, while the balance is externally managed. <\/p>\n

The <\/strong>fund is most bullish on localization + giga-projects: <\/strong>While most of the fund\u2019s portfolio components have seen their share of total AUM decline y-o-y last year, assets in sector development projects rose to 33% of total AUM, up from 21%, and giga-projects rose to 8%, up from 5% the year prior. <\/p>\n

Meanwhile, Saudi equity holdings accounted for 27% of AUM, down five percentage<\/strong> points<\/strong>, while treasuries accounted for 3% of AUM, down from 9% the year prior. This could be viewed as a signal of the fund\u2019s growing interest in productive sectors rather than fixed-income instruments, which is aligned with the Kingdom\u2019s diversification ambitions. <\/p>\n

Energy is king<\/strong>:<\/strong> The largest allocation was in energy at 23%, followed by 19% in multi-sector funds and money-markets, real estate at 17%, IT at 9.4%, and financials at 7.3%.<\/p>\n

2025 <\/strong>targets:<\/strong> The sovereign wealth fund is targeting SAR 4 tn in AUM by the end of next year, with 21% of that in new sectors, and 24% in international sectors (up from 20% in 2023). The fund aims to have contributed SAR 1.2 tn to non-oil GDP by the end of next year, and created 1.8 mn jobs. <\/p>\n

The fund has identified 13 strategic sectors for next year<\/strong>, including aerospace and defense, automotive, real estate, and entertainment, leisure, and sports. Bloomberg<\/a> also had the story. <\/p>\n","protected":false},"excerpt":{"rendered":"

The fund is targeting SAR 4 tn AuM by the end of next year<\/p>\n","protected":false},"author":1,"featured_media":88848,"comment_status":"","ping_status":"open","sticky":false,"template":"","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":[2616],"tags":[10,31,2484],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-88847","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-enterpriseam-ksa","tag-investment-watch","tag-the-public-investment-fund-pif","wpautop","entry"],"acf":{"mongo_id":"03c6826f-a14a-4add-a7e1-771e976dce04","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/1735.jpg","photo_position":"above","homepage_title":"","full_issue_title":"The Public Investment Fund\u2019s assets under management rose 29% to SAR 2.9 tn in 2023","related_issue":[88842],"teaser":"The fund is targeting SAR 4 tn AuM by the end of next year","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.d60c6796-b861-4da8-8f8a-0a94ebd0e743.mp3"},"yoast_head":"\nPIF assets under management rose 29% to SAR 2.9 tn in 2023 - 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