Saudi PIF ranks 9th among world’s top SWFs with $360 bln assets

The Saudi Public Investment Fund (PIF) ranked 9th among the world’s largest sovereign wealth funds (SWFs) by the end of May 2020 with a net worth of $360 billion, recent data from SWF Institute showed.

The Kingdom’s sovereign wealth fund had $320 billion in assets, according to the previous data of the SWF institute.

Saudi Arabia’s Minister of Finance and Acting Minister of Economy and Planning, Mohammed Al-Jadaan, said that the Saudi Arabian Monetary Authority (SAMA) has transferred exceptional SAR 150 billion ($40 billion) of FX reserves to the Public Investment Fund (PIF) last March and April.

Elsewhere, Norway’s Government Pension Fund Global maintained its top position in the list with assets standing at $1.186 trillion.

China Investment Corporation (CIC) came in second with $940.6 billion worth of assets.

It was followed by Abu Dhabi Investment Authority ($579.6 billion) and Kuwait Investment Authority (KIA) with $533.7 billion worth of assets.

The aggregate assets of the 93 sovereign wealth funds hit $8.23 trillion.