2.23 trillion riyals.. The assets of the Saudi Investment Fund

The Saudi Public Investment Fund published its annual report for the year 2022, which showed that the assets managed for the fund exceeded 2.23 trillion riyals ($ 594.43 billion) in 2022, after the value of the assets under management for the Kingdom’s sovereign fund amounted to 1.98 trillion riyals for the year 2021.

Total return

The fund said that it achieved a total return of 8% to shareholders and established 25 companies in 2022, which provided 181,000 jobs and pumped 120 billion riyals in that year in strategic sectors.

The fund indicated that 23% of its managed assets are international investments, 68% are local investments, and the rest is in the treasury portfolio, adding that 17% of its assets are managed externally, while 83% are managed internally.

The investment fund is the tool chosen by Saudi Crown Prince Mohammed bin Salman to advance an economic agenda aimed at reducing dependence on oil.

The fund pointed out that the ongoing expansion of its three branch offices in London, New York and Hong Kong will support the continued growth of the fund and make it the preferred choice for partnership with global investors.

Financing sources

The fund's sources of financing come from retained profits from investments, capital pumped by the government, and assets transferred by the government to the fund, as well as loans and debt instruments.

The Saudi Public Investment Fund raised $5.5 billion in February from the sale of green bonds, after the first offering of green bonds in October, during which it raised $3 billion.

In addition, the fund obtained a $17 billion loan in November from a group of 25 banks, part of which will be directed to refinancing a loan it had obtained in 2018.

In February of last year, the Crown Prince announced the transfer of 4% of the shares of oil giant Aramco, valued at about $80 billion, to the Public Investment Fund.

In April, another 4% of Aramco shares, also estimated at about $80 billion, were transferred to Sanabel Investment Company, owned by the Public Investment Fund.