*Ikrami Abdullah from Riyadh
The Public Investment Fund has maintained its 10th ranking among the world's largest sovereign wealth funds, according to the latest update by the world's sovereign wealth funds institute.
The Saudi Arabian Monetary Agency emerged from the list of sovereign funds, apparently as a result of the adjustment of the Institute's mechanism for determining sovereign funds.
Saudi foreign assets held by SAMA amounted to 499.5 billion dollars (1.87 trillion riyals), so it would certainly have been one of the top 10 sovereign wealth funds once listed.
According to the analysis of the report unit in the newspaper "AlEqtisadiah" that was based on data from the International Institute, the Public Investment Fund's assets amounted to 320 billion dollars (1.2 trillion riyals), which was accounting for 4.1 per cent of the world's sovereign wealth, which was ranking tenth among sovereign wealth funds.
In the fourth quarter of 2015, the fund's assets were $ 152 billion (SR 570 billion), which was ranking 31st in the world.
It reached 320 billion dollars (1.2 trillion riyals) according to the latest update of the Institute, which means that the assets of the fund jumped by 111 per cent, and the value of 168 billion dollars (630 billion riyals) in less than three and a half years, as a result of this jump in the assets of the Fund, 21 centers are offered.
The Public Investment Fund is close to achieving the target of the National Transition Program, which is to have assets of $ 400 billion (SR 1.5 trillion) by 2020.
The report is based on data monitored by the Sovereign Wealth Funds Institute around the world for 79 sovereign funds.
The Institute is a global organization that aims at studying sovereign wealth funds, pensions and pension funds, central banks, endowments and other public investment instruments over the long term.
The Sovereign Wealth Funds Institute is monitoring 79 funds, totaling $ 7.77 trillion.
The Norway's pension fund topped the list with $ 1073 billion in assets, accounting for 13.8 per cent of the total assets of sovereign funds in the world, and followed by the China Investment Fund with assets of $ 941.4 billion, accounting for 12.1 per cent of the total assets of sovereign funds in the world.
Thirdly, the Abu Dhabi Investment Fund with assets of $ 696.7 billion that accounts for 9 per cent of the total assets of sovereign funds in the world.
In fourth place, Kuwait Investment Authority with assets of $ 592 billion that accounts for 7.6 per cent of total SWF assets in the world.
Fifth, Hong Kong's cash investment fund with assets of $ 509.4 billion that accounts for 6.6 percent of the total assets of sovereign funds in the world.
Sixth, the China Investment Fund (SAFE) with assets of $ 439.8 billion, constituting 5.7 percent of the total assets of sovereign funds in the world.
Then, the Singapore State Investment Fund with assets of $ 390 billion that is accounting for 5 per cent of the total assets of sovereign funds in the world.
Eighth, Temasek Holding's "Singapore" fund that valued at $ 375 billion and accounted for 4.8 per cent of the total assets of global sovereign funds.
Then, China's social security fund that was worth $ 341.4 billion, accounting for 4.4 percent of the total assets of global sovereign funds.
In tenth place, the Saudi Public Investment Fund was dissolved.
Investment Fund Program
The Public Investment Fund is one of the "Vision 2030" programs that includes 30 initiatives in the next three years, which will raise the value of the fund's assets to 1.5 trillion Saudi riyals ($ 400 billion) by 2020 and generate 20,000 local jobs - more than half of which require high skills - and 256,000 construction jobs, in addition to increasing the contribution of the Public Investment Fund to the real GDP from 4.4% to 6.3% and contributing directly to local content by SR 50 billion.
The fund seeks to become one of the world's most influential sovereign wealth funds and become an active engine in the global economy and a preferred partner in global investment opportunities.
The Fund's current asset maximization plans include raising the total return on shareholders from 3 per cent to between 4 and 5 per cent.
The global strategic investment portfolio aims to be an effective engine in the global economy and build the Kingdom's reputation globally as a preferred partner in global investment opportunities.
The Global Fund's assets will be diversified through a diversified portfolio of global investments, which aims to invest in fixed income investments, public stocks, private equity, debt, real estate, infrastructure and other alternative investments such as hedge funds.
* Economic Reports Unit
