The Clap
The Saudi Public Investment Fund (PIF) recorded a 25% return to shareholders in 2021, in light of the rise in global stocks, following the COVID-19 pandemic.
The Deets
The fund’s returns more than doubled compared to the annual average of 12%, between 2017 and 2020.
Last year, the fund’s returns to shareholders were in the same range as the S&P 500 Index, which saw a 27% increase in the same period.
Profits
The PIF’s profits attributable to the company’s shareholders declined by 64% YoY in 2021, to SAR 81.8 billion.
The fund also recorded non-recurring gains from selling its stake in SABIC, for about $70 billion in 2020.
Fund’s Wallet
The fund manages a portfolio of US stocks that consists of stakes in giant companies, such as “BlackRock”, “JP Morgan” and “Uber”, worth close to $40 billion.
The PIF also struck a $20 billion deal in a US infrastructure fund managed by Blackstone Corporation, in addition to an investment of $45 billion in SoftBank Group’s “vision” fund.
Related News
The fund appointed a large group of global banks to arrange its first issuance of multi-tranche green bonds denominated in US dollars making it the first sovereign fund to offer green bonds in the world.
PIF records strong returns 💸
