Saudi PIF Assets Surge to over $42 Billion in Q3 2024
Saudi Arabia’s Public Investment Fund (PIF) assets skyrocketed in Q3 2024. The value surged by a remarkable 37%, reaching over SAR160 billion ($43.22 billion). This represents a significant increase of nearly SAR43 billion ($11.6 billion) compared to the same period in 2023.
Domestic Investments Fuel Growth
Domestic investment assets drove this impressive growth, soaring by 42%. They now account for a substantial 84% of the total asset value. In contrast, foreign investment assets also experienced growth, albeit at a more moderate 15.1%.
The number of PIF subscribers witnessed a remarkable surge of 51%. This translates to an increase of nearly 528,000 subscribers, bringing the total to 1,570,452.
Fund Growth and Diversification
The number of public investment funds also increased by 10%, with the addition of 27 new funds. This brings the total number of funds to 310.
PIF assets are diversified across 14 investment types. Money market funds currently hold the largest share, accounting for 28% of total assets. Equity funds follow closely, representing 27.3%. Real estate and debt instrument funds also hold significant positions, contributing 18.3% and 14% respectively.
The Public Investment Fund continues to demonstrate strong growth, aligning with the Kingdom’s ambitious Vision 2030 strategy.
