The total assets of Saudi Arabia's sovereign fund, the Public Investment Fund (PIF), reached $925 billion in July 2024, according to the financial report published on its website.
The report highlights that the value of PIF assets increased by 29% in the past year, rising from $765 billion in 2022. By the end of 2023, the volume of international investments totaled $156 billion, reflecting a 14% increase compared to the previous year's figures. The fund's average total shareholder return was recorded at 8.7% per annum.
The PIF is one of the largest sovereign wealth funds in the world and plays a pivotal role in advancing Saudi Crown Prince Mohammed bin Salman Al Saud's initiative to diversify the kingdom's economy, which has traditionally been heavily reliant on oil exports.
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Based on materials from TASS