The Saudi Public Investment Fund advanced to seventh place among the largest sovereign wealth funds in the world.
According to the latest classification of the SWF Institute, the fund has surpassed the Singaporean Temasek Holding Fund, which fell to eighth place, according to the latest classification of the SWF Institute, specialized in studying governments and sovereign funds’ investments for June 2021.
The fund’s assets increased by US$30.55bn, totalizing US$430bn – compared to US$399.45bn the previous month.
According to the fund’s strategy for the next five years, the goal is to double the size of its assets and exceed SR$4tn 2025 and SR$10tn 2030 (equivalent to US$2.7tn).
The Norwegian Government Pension Fund ranked first as the largest sovereign fund in the world, with assets of US$1,289.46bn.
The China Investment Company came in second place, with assets worth US$1045.72bn, followed by the Abu Dhabi Investment Authority, with assets worth US$649.2bn.
The total volume of assets of sovereign wealth funds in the world in June reached about US$8.41tn.