Saudi public investment fund aims to manage $2trn assets by 2030

October 25, 2017 9:54 am


Saudi Public Investment Fund CEO Yasir Al-Rumayyan says he will grow assets under management to more than $2 trillion by 2025.

Speaking exclusively to Bloomberg TV at the Future Investment Initiative in Riyadh, he added that the sovereign wealth fund is targeting investment returns of 8 to 9 per cent.

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He also said that the fund is constantly looking for new partners.

The PIF is central to the government’s effort to diversify its economy away from oil.

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The kingdom plans to transfer ownership of state-owned oil company Saudi Aramco, to the fund, which could eventually control more than $2 trillion worth of assets for investments in projects geared to fulfill the aims of Vision 2030.


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By AMEinfo Staff
AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.