Counts Saudi Public Investment Fund Sources tell Bloomberg that it will invest about $ 10 billion in the stock market this year.
The direction of the public investment fund is moving towards doubling the assets of the fund by 2025.
Sources added that the Sovereign expects to invest funds based on a strategy that focuses on areas including e-commerce and renewable energy sources.
The Public Investment Fund, led by Crown Prince Mohammed bin Salman, wants to buy global stocks based on an objective strategy focusing on areas including e-commerce and renewable energy sources. Expenditure on global equity is included in the fund’s direct investments in international companies and their local contracts.
Since the epidemic plunged stock markets in early 2020, Saudi Arabia’s wealth has accounted for about $ 500 billion in assets, a major share of world markets, since it received $ 40 billion in transfers from state reserves in early 2020. The money was used to buy shares of companies including Citigroup Inc. And Facebook Inc. And Carnival Corp, the cruise ship’s operator, sold them a few months later.
Yasser al-Rumayan, the governor of the Public Investment Fund, said a year ago that he intended to invest 80% of his investments in the Saudi economy, with the rest being spent internationally.
A document outlining the Fiscal Strategy for 2021-25, “aims to diversify PIF’s international portfolio investments into geography, property classes and sectors, as well as the local economy and the oil and gas industry.”
The Public Investment Fund’s assets, including its holdings in local companies, are worth about $ 200 billion, according to Bloomberg Data, which dominates its shares in Lucid Group Inc. And Saudi Telecom.
In the third quarter of last year, the fund tripled its holdings to $ 43.4 billion in public business in the U.S. from the end of 2020. Investing in video game makers began in 2021 and recently added shares in Chinese e-commerce and clean energy companies from PayPal Holdings Inc. and Plug Power Inc. and Alibaba Group Holding Ltd.
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