Saudi sovereign wealth fund splashes cash in 2023.

Saudi Arabia's Public Investment Fund (PIF) accounted for about a quarter of the almost $124 billion spent by sovereign wealth funds worldwide in 2023, a report published on Jan. 1 showed. PIF's spending of $31.5 billion in 2023 compared with $123.8 billion for all sovereign wealth funds, based on a preliminary annual report from Global SWF, an industry specialist that tracks the world's sovereign investment funds. The strong rally in global stocks during the year helped to boost the assets managed by the sovereign wealth funds worldwide to a record $11.2 trillion.

January 01, 2024
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