Saudi Arabian Public Investment Fund's Assets Exceed 2.23 Trillion Riyals in 2022

The Saudi Arabian Public Investment Fund (PIF) announced that its assets under management (AUM) have surpassed 2.23 trillion riyals ($594.43 billion) in 2022, compared to 1.98 trillion riyals in 2021. The PIF reported a total shareholders' return of 8% and established 25 companies in 2022. It also disclosed that 23% of its AUM were international investments, while 68% were local investments. The PIF is a key component of Crown Prince Mohammed bin Salman's economic agenda to reduce reliance on oil.