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Saudi Arabia’s sovereign wealth fund, Public Investment Fund (PIF), won the 'Fund of the Year 2020' Award from Global SWF.

 

PIF was awarded based on its global impact, coupled with its contributions to the development of Saudi Arabia’s economy through investments in promising and innovative sectors, Global SWF said.

 

It added that PIF has become the key driver for Vision 2030 and one of the most renowned SWFs worldwide.

 

The fund's size grew from $150 billion in 2015 to $360 billion currently, backed by its long-term strategy and investment approach, said Global SWF.

 

Meanwhile, PIF Governor Yasir Al-Rumayyan recently said that the fund currently reports returns of 7-8%, compared to 2-3% before 2016, according to data available with Argaam.

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