At least 75% of PIF’s assets are Saudi equities: Al-Rumayyan

Saudi Arabia’s Public Investment Fund (PIF) currently has four folds of investment, of which local equities represent 75 percent of its assets under management, Zawya has reported citing Yasir Al-Rumayyan, PIF’s Managing Director.

Also read: Saudi investment fund to raise its international exposure: Al-Rumayyan

“The four folds of investments that we have in Saudi by the sovereign fund are Saudi equities, and that represents 75 percent of our assets under management, the giga-projects like NEOM, Red Sea and Qiddiya… then we have real estate and infrastructure, and finally we have the sector development,” Yasir Al-Rumayyan said while speaking said at a conference in Abu Dhabi last week.

PIF currently holds stakes in Saudi majors that include National Commercial Bank (NCB), Saudi Telecom and Saudi Basic Industries (SABIC), among others, the report added.

Also see: PIF has invested in 50 to 60 firms via SoftBank fund: Al Rumayyan

Speaking at Milken Institute MENA summit in Abu Dhabi on Wednesday, Al-Rumayyan said that the fund aims to develop non-oil industries and diverse sectors in the kingdom, including the expanding entertainment industry, to preserve the country’s oil wealth.