Banking & Finance Saudi wealth fund’s returns hit 25% in 2021 as markets recover By Pramod Kumar September 28, 2022, 5:31 AM Reuters/Ahmed Yosri The kingdom is currently in talks with more banks as it aims to get advisers on board for Aramco's upcoming IPO The Public Investment Fund (PIF), the Saudi sovereign wealth fund, offered 25 percent returns to shareholders last year as global stock markets rebounded, Bloomberg reported, citing the fund’s prospectus for its debt green bond sale. Investor returns more than doubled from an annual average of 12 percent between 2017 and 2020. However, 2021 returns matched the S&P 500 Index, which rallied 27 percent higher last year. PIF’s shareholders’ profit declined to SAR 81.8 billion ($21.75 billion) in 2021 from SAR 212.7 billion a year earlier due to discontinued operations. Revenue grew to SAR 228.2 billion from SAR 179 billion a year earlier. According to the report, PIF made a one-off gain in 2022 from its stake sale in Saudi-listed Saudi Basic Industries Corporation (Sabic) for nearly $70 billion. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
