Saudi PIF ranks 8th among world’s top SWFs with $390 bln assets

Saudi Arabia’s Public Investment Fund (PIF) maintained its 8th position among the world’s largest sovereign wealth funds (SWFs) for September 2020, recent data from SWF Institute showed.

The Kingdom’s sovereign wealth fund assets increased by $30 billion to $390 billion, hovering near a targeted level of $400 billion by the end of 2020.

Elsewhere, Norway’s Government Pension Fund Global maintained its top position in the list with assets standing at $1.108 trillion, declining by nearly $78 billion.

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 combined assets of the 88 sovereign wealth funds hit $7.83 trillion.

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