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PIF aims to manage over US$400b in assets by 2020

Published Wed, Oct 25, 2017 · 09:50 PM

Riyadh

SAUDI Arabia's Public Investment Fund (PIF) aims to increase its assets under management to 1.5 trillion riyals (S$540 billion) by 2020 as part of the country's Vision 2030, an economic reform plan aimed at boosting private-sector growth and developing non-oil industries.

The country's main sovereign wealth fund, which is expected to receive proceeds from the planned sale of 5 per cent of state oil company Saudi Aramco's IPO-ARMO.SE shares, has currently around US$230 billion worth of assets under management.

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International

International

PIF aims to manage over US$400b in assets by 2020

International

When US diplomats visit China, meal choices are about more than taste buds

Laid-back vibe, stunning beaches, rich cuisine and low cost of living lure more expat retirees to Malaysia

Vietnam tycoon appeals against US$27 billion fraud death sentence

US announces new restrictions on firearm exports

Central banks will probably only cut half as much as they hiked

US consumer sentiment falls as inflation expectations climb

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