Total assets under management of the Saudi Public Investment Fund currently amount to approximately $925 billion.
The total value of assets managed by the Saudi Public Investment Fund exceeded about 2.87 trillion riyals (equivalent to 765.6 billion dollars) by December 31, 2023, a growth of 29% compared to the end of 2022.
Assets managed by the Public Investment Fund
According to the report Saudi Public Investment Fund Annual for 2023, the average total shareholder return on an annual basis reached 8.7% since the start of the Kingdom’s Vision 2030 Realization Program, while the total assets under its management currently amount to 3.47 trillion riyals, equivalent to 925 billion dollars.
Achievements of the Fund
The report showed an investigation Public Investment Fund During 2023, rapid achievements will be made in various pillars and strategic sectors in the Kingdom and the world, including transportation, mining, real estate, infrastructure, health, communications, technology, tourism, and sports, within the framework of its work strategy as a major driver and driver of economic transformation in the Kingdom, in line with “Saudi Vision 2030“and his position as one of the world’s most influential investors.
The fund added that the total net cash return for each of the investment portfolio aimed at developing and growing promising sectors, and the investment portfolio in Saudi companies, amounted to about 42 billion riyals for the year 2023 (about 11.2 billion dollars), double the target set at 20 billion riyals (about 5.3 billion dollars), while the size of the assets of the investment portfolio in real estate projects and Saudi infrastructure development projects witnessed a growth of 15% to reach 233 billion Saudi riyals (equivalent to 62 billion dollars).
Fund Governor: We are making steady progress
In his speech in the annual report, Yasser Al-Rumayan, Governor of Public Investment Fund The Fund is making steady progress towards achieving financial returns that exceed the targets set in 2023, in line with the Fund’s strategy for the period 2021-2025.
Al-Rumayan explained that the fund has achieved remarkable progress in terms of its managed assets, which amounted to 2.87 trillion riyals by the end of 2023, an increase of 29% compared to 2.23 trillion riyals at the end of 2022, as the fund continued to take bold steps to achieve its ambitions.
According to the Fund’s annual report, the launch of the Fund’s private sector platform in 2023 was a milestone and important in highlighting the opportunities that enable local companies to align with and support the Public Investment Fund’s mission. Several major initiatives were revealed with the launch of the platform.
New companies launched by the fund
Al-Rumayan added that the group of new companies launched by the Public Investment Fund during 2023 played a vital role in empowering promising new sectors, as it launched “Riyadh Aviation” as a new national air carrier for the Kingdom with international standards, and the Electric Vehicle Infrastructure Company (EVIQ), to accelerate the pace of reliance on electric vehicles.
He added: The Fund also launched the Pharmaceutical Investment Company (Livera) to empower the health and pharmaceutical sectors, and the companies “Al-Balad” and “Ardara” to enhance the development of the real estate sector.
Al-Rumayan pointed out that great steps have been taken towards achieving the goals of “Saudi Vision 2030”, through strategic investments aimed at diversifying the economy and focusing on improving the quality of life, noting that the Kingdom’s economic performance in 2023 demonstrated the Kingdom’s ability to withstand and adapt in the face of economic challenges.
