#Saudi equities make up 75% of PIF's assets, says fund's chief | ZAWYA MENA Edition

Saudi equities make up 75% of PIF's assets, says fund's chief | ZAWYA MENA Edition:

Saudi Arabia’s sovereign wealth fund has four folds of investment, of which local equities represent three quarters of its assets under management, the fund’s chief has said.

“The four folds of investments that we have in Saudi by the sovereign fund are Saudi equities, and that represents 75 percent of our assets under management, the giga-projects like NEOM, Red Sea and Qiddiya… then we have real estate and infrastructure, and finally we have the sector development,” Yasir Al-Rumayyan, managing director of the kingdom’s Public Investment Fund (PIF), said at a conference in Abu Dhabi.

PIF currently holds stakes in Saudi majors that include National Commercial Bank (NCB), Saudi Telecom and Saudi Basic Industries (SABIC), among others.