Saudi PIF (Public Investment Fund) saw its assets under management grow by over 20 percent in 2021 to SR1.980 trillion ($526.8 billion).
In terms of assets under management, the PIF ranks as one of the world’s largest sovereign wealth funds.
Governor Yasir Al-Rumayyan is keen to see the growth continue, and aims for an AUMS of SR4 trillion by 2025.
As a result of the fund’s 2021 annual report, he stated: “During 2021, the Fund achieved an annual growth rate of over 20 percent, resulting in its highest annual growth since the PIF Program was launched, ranking among the top sovereign wealth funds by AUM.”
AUMs for the Fund are expected to grow while its contribution to non-oil GDP is expected to improve, he said.
Saudi PIF made profits in 2021
The report states that the PIF made profits in 2021 of SR85.7 billion, which exceeds the previous year’s figure.
Also in 2021, Saudi Sector Development and International Strategic Investments returned 25 percent to the Saudi sovereign fund.
Total return includes realized and unrealized profits and losses from changes in market capitalization, net profits, and dividends.
New Saudi Arabian businesses
12 new Saudi Arabian businesses created by the PIF, and approximately 77,000 new jobs create across the portfolio, Al-Rumayyan note.
There were 1,457 employees from both genders at the fund, 83 percent of whom were Saudi nationals.
The number of direct and indirect jobs created in 2021 was 77,700, and 45 companies were established.
It was another year in which PIF demonstrated its exceptional strength and resilience, said the PIF governor.
A five-year strategy was implemented successfully, a proactive investment approach was implemented to take advantage of emerging opportunities both locally and abroad, and an ESG (Environmental, Social, Governance) roadmap was established towards a more sustainable future. As it overcame market challenges, it accelerated its asset growth and fulfilled its mission for Saudi Arabia and its people, according to him.
