The assets of the Public Investment Fund rose to $ 650 billion, to maintain the sixth rank among the largest sovereign wealth funds in the world, according to the latest classification of the "SWF Institute", which specializes in the study of investments of governments and sovereign funds.
The fund's assets increased by $42.6 billion, compared to $607.42 billion at the end of 2022.
According to the fund's strategy for the next five years, the target is to double the size of its assets to exceed 4 trillion riyals, equivalent to $1.07 trillion in 2025.
It is noteworthy that the Norwegian government pension fund ranked first as the largest sovereign fund in the world, with assets amounting to $ 1350.9 billion, while the China Investment Corporation fell to second place.
The total volume of assets of sovereign wealth funds in the world amounted to about $10.47 trillion, compared to $10.30 trillion by the end of 2022.
Okaz (Jeddah) @okaz_online