Logo of Public Investment Fund (PIF)
The Public Investment Fund (PIF) advanced to the fifth position among the world’s largest sovereign wealth funds (SWFs), after its net assets rose to $940.26 billion, according to the latest data from the SWF Institute.
PIF's assets rose by $163.6 billion, compared to $776.7 billion at the end of December 2023.
This increase came after Crown Prince Mohammed bin Salman announced the transfer of 8% of Saudi Aramco’s shares to portfolios of companies wholly-owned by PIF.
As per PIF's five-year strategy, the target is to double the size of its assets to more than SAR 4 trillion ($1.07 trillion) by 2025. Crown Prince Mohammed bin Salman said earlier that the PIF targets to grow its assets to SAR 10 trillion ($2.7 trillion) by 2030.
Norway’s Government Pension Fund Global ranked first with $1.64 trillion assets, followed by China Investment Corp.
The aggregate assets of the world’s SWFs hit about $12.70 trillion, up from $11.67 trillion in July 2023.
The following table shows the world’s top 10 sovereign wealth funds:
|
World’s Largest 10 Sovereign Wealth Funds |
|||||
|
Ranking |
Fund |
Country |
Assets in July 2023 ($ bln) |
Assets in March 2024 ($ bln) |
Change |
|
1 |
Government Pension Fund Global |
Norway |
1371.81 |
1648.08 |
276.27 |
|
2 |
China Investment Corp. |
China |
1350.86 |
1350.00 |
(0.86) |
|
3 |
SAFE Investment Co. |
China |
1019.60 |
1090.00 |
70.40 |
|
4 |
Abu Dhabi Investment Authority |
UAE |
853.00 |
993.00 |
140.00 |
|
6 |
Public Investment Fund |
Saudi Arabia |
776.66 |
940.26 |
163.60 |
|
5 |
Kuwait Investment Authority |
Kuwait |
803.00 |
923.45 |
120.45 |
|
7 |
GIC Private Limited |
Singapore |
690.00 |
770.00 |
80.00 |
|
8 |
Hong Kong Monetary Authority Investment Portfolio |
China |
514.22 |
514.22 |
-- |
|
9 |
Qatar Investment Authority |
Qatar |
475.00 |
501.00 |
26.00 |
|
10 |
Temasek Holdings |
Singapore |
492.21 |
492.21 |
-- |
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