[25] PIF also disclosed an $827.7million stake in oil company BP. [71], Phil Mickelson also gave a controversial statement saying, the Saudis are "scary motherfkers to be involved with". The 25 new investments by the sovereign wealth fund have been made mostly in companies whose industries have been negatively affected by the market crash due to the coronavirus pandemic. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. High in the Pyrenees, a vast, abandoned station reopens as a hotel, Motorbikes so good even Aquaman wants to ride them. When completed, an email will be sent to the email address you specify Their last reported 13F filing for Q4 2022 included $30,938,670,069 in managed 13F securities Ken Cheung at Mizuho Bank said domestic consumption "proved to be the pillar" behind the economic improvement, but "industrial production was disappointing given the strong rebound in exports growth". It ended the period with stakes worth between $75 million and $80 million in Warren Buffett's Berkshire Hathaway, Booking.com, IBM, Pfizer, Qualcomm, and Starbucks. for PUBLIC INVESTMENT FUND, Top 20 equal-weighted holdings. [11] The board says PIF is aligned with the government's Vision 2030[12] with the aim to diversify the economy. "[33], In October 2017, it was announced that PIF would aim to increase its assets under management to more than $400 billion and create more than 20,000 new jobs by 2020. RIYADH, T0 [70] The CEO Greg Norman and star players had to face questions about their association with LIV Golf, despite the Kingdom's abysmal human rights records. | Saleem Alsharari - . In 2016, The Wall Street Journal noted that none of the fund's investments were named. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Exclusive news, data and analytics for financial market professionals, Reporting by Hadeel Al Sayegh Standard Digital includes access to a wealth of global news, analysis and expert opinion. Geographically, PIF has expanded its investments in North America, Europe, Asia, Latin America, and Africa. Even if such a deal goes through as war continues in Ukraine, however, India may not have to worry about any implications from the West, said Harsh V. Pant, head of strategic studies at the Delhi-based Observer Research Foundation. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. DUBAI, Aug 16 (Reuters) - Saudi Arabia's Public Investment Fund (PIF) bought shares in Alphabet (GOOGL.O), Zoom Video (ZM.O) and Microsoft (MSFT.O) as part of a wider pick of U.S. stocks,. [64] Some of the prominent professional golf players participated in the event, including Phil Mickelson, Dustin Johnson, Graeme McDowell, Sergio Garca, Martin Kaymer, Louis Oosthuizen, Charl Schwartzel and Lee Westwood. The lack of transparency and close control by the Saudi Arabian government has generated much controversy. We will be in touch soon. (This story corrects lead to show $40.8 bln is portfolio's market value, not Q2 investments). China's economy grew just three percent in the whole of last year, one of its weakest performances in decades. Earlier in January, data released by the Sovereign Wealth Fund Institute suggested that the PIF has maintained the sixth spot in the list of top sovereign wealth funds worldwide, with assets worth $607.42 billion. All quotes delayed a minimum of 15 minutes. [29], In 2016, SoftBank Group and the PIF announced that they would establish a SoftBank Vision Fund which aims to invest up to $45billion over five years in the tech sector. for Q4 2022. LIMIT THE USE OF MY SENSITIVE PERSONAL INFORMATION, % of top 20 holdings the same as top 20 most commonly held by all managers. Beijing's virus-containment policy -- an unstinting regime of strict curbs on the population -- strongly constrained normal economic activity before it was abruptly ditched in December. The Public Investment Fund (PIF) reduced its holdings in US companies to $7.05 billion by the end of Q3 2020 from $10.1 billion in Q2 2020. Chinas gross domestic product grew 4.5 percent year-on-year in the first three months of 2023, data showed on Tuesday, beating analyst forecasts for a 4 percent expansion as the end of COVID-19 curbs lifted the worlds second-largest economy out of a slump. Sanabil Investments has pledged to commit $2 billion annually in earlier stages of the business lifecycle, particularly in venture capital, growth and small buyouts, according to its website. Saudi Arabia's Public Investment Fund (PIF) is investing $3.5 billion into Uber, with its Managing Director Yasir Al Rumayyan joining Uber's board. S&P 500WhaleScore Riyadh-based Sanabil is an investment company that commits approximately $3 billion a year to private transactions, its website says. The figures were the first snapshot since 2019 of the world's second-largest economy unencumbered by the strict health controls that helped keep the coronavirus in check but battered businesses and supply chains. Saudi Arabia's $320 billion sovereign-wealth fund known as the Public Investment Fund (PIF) is the driving force behind Saudi Arabia's vision for economic diversification and mission as a powerhouse investor on the global stage. Create Email Alert, ***Log In or The dollar index, which measures the currency against six major rivals, eased 0.078 percent to 102.01 after rising 0.5 percent overnight. [1]: [36][37], In September 2018, Al-Rumayyan announced PIF's first step in incorporating loans and debt instruments into its long term strategy, with an $11 billion loan facility. [14] The shares for the second 4% stake in 2023 were valued around $73 billion. April 16, 2023 10:26. It also revealed stakes worth between $480 million and $500 million in Disney, Cisco, and Suncor Energy. and a top 10 holdings concentration of 66.62%. "[73], In 2022, PIF made a $1.5 billion investment in Credit Suisse as part of a broader goal of to diversify its portfolio into global banking. Public Investment Fund's largest holding is Lucid Group Inc with shares held of 1,109,006,595. All rights reserved. Is Wiltons new coronation menu fit for a king? The Public Sector Investment Facility (PIF) is one of Finland's development policy instruments for funding investments in developing countries. Public Investment Fund of Saudi Arabia (PIF) is a Sovereign Wealth Fund located in Riyadh Saudi Arabia, Middle East, and was founded in 1971. Saudi sovereign wealth fund PIF held nearly $56 billion worth of U.S.-listed stocks as of December last year, up from $43.4 billion at the end of September, boosted by the increased value of . Affinity Partner's investment in Israeli startups was agreed to by Saudi officials and was also believed to have been approved by Crown Prince Mohammed. The Kingdoms sovereign wealth fund acquired 13 million shares in Canadas NovaGold for $154.6 million, it said in a filing to the US Securities and Exchange Commission (SEC). It came as a new challenge against the PGA Tour, after the World Golf Tour and the Premier Golf League. [32] During the CEO Forum US-Saudi, arms deals were announced including a pledge to "assemble 150 Lockheed Martin Black Hawk helicopters" in Saudi Arabia, representing 450 jobs in Saudi Arabia" as part of the "$6billion deal for Black Hawks. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Although Mohammad bin Salman is the chairman of PIF, PIF has denied "any suggestion that the decision-making or conduct of the board of PIF is unduly influenced (or influenced in any way contrary to the principles of good governance) by the crown prince." [16] In March 2016, it was announced that ownership of Saudi Aramco would be transferred to the PIF and that the Kingdom will seek to list 5 percent of Aramco's shares by 2017. Premium access for businesses and educational institutions. [66] Phil Mickelson also committed to the series after signing a $200million contract. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Shell restarts Pierce field operations in the UK North Sea The giga-projects are designed to stimulate the economy and their benefits are expected . Follow @arabnews. Know more about our Privacy Policy here. Oversea-Chinese Banking Corp. currency strategist Christopher Wong said it was quite an encouraging report, with retail sales, GDP and property sales all higher than expected, reinforcing that post-pandemic recovery momentum remained intact. The Public Investment Fund (PIF) of Saudi Arabia is one of the largest sovereign wealth funds in the world. While an FTA with the Moscow-led Eurasian Economic Union has been discussed for years without much progress, Indias trade priorities shifted after the Russian invasion, said Amitabh Singh, an associate professor at the Centre for Russian and Central Asian Studies at Jawaharlal Nehru University. [42], In 2021, they purchased stakes in the American video game companies Electronic Arts, Take-Two Interactive, and Activision Blizzard. The fund also made a range of smaller bets. The PIF, which manages $620 billion in assets, is at the centre of Saudi Arabias plans to transform the economy by creating new sectors and diversifying revenues away from oil. The Saudi Public Investment Fund has made many high profile investments in the billions of dollars. [44], PIF owns a major indirect stake in Twitter, although many Saudis who use the platform for political dissent and activism are arbitrarily arrested and imprisoned. How do I update this listing? PIF maintains a leading and impactful investment strategy in line with Vision 2030, to drive Saudi Arabia's economic transformation through active, long-term investments and high standards of governance and transparency. Editing by David Goodman, China's electric car drive, led by BYD, leaves global brands behind, Goldman Sachs profit falls in first quarter as dealmaking sputters, UBS makes changes to buyback programme following Credit Suisse takeover, Bollore in exclusive talks with CMA CGM over sale of Bollore Logistics, Gazprom says Europe set to struggle fill gas storage for next winter, US single-family housing starts increase in March, Most Gulf markets end lower ahead of Eid break, Swedish Radio becomes first big European broadcaster to quit Twitter, Russia not planning Wikipedia block for now, minister says. In the 39-year history of SoftBank, the Saudi Arabia-backed funds paid the group its worst-ever losses, where the overall company losses were 1.36trillion yen (more than $12.5billion). The move was intended to take advantage of higher hydrocarbon prices towards funding the expansion of the PIF in its overarching goal to diversify investments. For a full comparison of Standard and Premium Digital, click here. NEW DELHI:India and Russia are in discussions for a free trade agreement, their ministers said on Monday, with the deal expected to further boost commercial ties that have flourished since Moscows invasion of Ukraine. [45], In 2021, PIF invested $2billion into a private equity firm that had been newly formed by Jared Kushner, Donald Trump's son-in-law, shortly after he left the White House. Public Investment Fund is based out of Riyadh. Here's a chart showing the PIF's US stock portfolio at the end of March: Sign up for our newsletter to get the inside scoop on what traders are talking about delivered daily to your inbox. sovereign wealth funds and state-business relations in Saudi Arabia", "Revealed: Newcastle chairman's links to Saudi 'anti-corruption' drive", https://en.wikipedia.org/w/index.php?title=Public_Investment_Fund&oldid=1150310358, This page was last edited on 17 April 2023, at 11:53. The Public Investment Fund (PIF; Arabic: ) is the sovereign wealth fund of Saudi Arabia. [56] The attempted takeover was "a blatant example of Saudi sportswashing", according to Kate Allen of Amnesty International UK. No affiliation or endorsement, express or implied, is provided by their use. 1 auto market, G7 puts focus on push for global fossil fuel phaseout deal, J&J lifts profit forecast as cancer drugs, Stelara buoy pharma unit, Exclusive: Airbus advises airlines of 2024 delays, keeps output goals, AstraZeneca confident new COVID antibody protects against known variants. "There is too much earnings, political, geopolitical and central bank risk on the table," Edward Moya, senior market analyst at OANDA, said in a note, adding that only a couple of risks need to rattle markets to trigger safe haven flows towards gold with the metal's path towards record territory still present. The next round of appraisals of the concept papers for the Public Sector Investment Facility (PIF) closes March 24th, 2023. 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During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. With effective, long-term investments, PIF endeavors to be a leading investor while sparking an impact felt beyond Saudi borders. Argaam.com Copyright 2023, Argaam Investment, All Rights Reserved, {{getCommenterName(comment.ParentThreadID)}}. Through Kushner's firm, Saudi could open to Israeli businesses, which could prove to be lucrative for the Arab country. Turnover is calculated by taking the # of new holdings (initial purchases) + the # of positions sold out of (not just reduced) divided by the total # of holdings for the quarter. These are the 10 largest disclosed investments by PIF. There were multiple meetings by Kushner had with a range of Israeli startups before he picked two of them to make an investment. [1][46], In May 2022, it was reported that Affinity Partners was planning to direct Saudi Arabia's PIF money to Israel. Public Investment Fund has met the qualifications for inclusion in our WhaleScore system. INVESTMENT SAUDI ARABIA TECHNOLOGY. You may change or cancel your subscription or trial at any time online. FILE - Storage tanks are seen at the North Jiddah bulk plant, an Aramco oil facility, in Jiddah, Saudi Arabia, on March 21, 2021. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. Their last reported 13F filing for Q4 2022 included $30,938,670,069 in managed 13F securities and a top 10 holdings concentration of 66.62%. [59][60][61][62], LIV Golf's strategy differed from other leagues as it offered the richest golf tournaments in history and was able to convince star players to take part. The transfer will solidify PIFs strong financial position and credit rating, the crown prince's statement said of the fund that is responsible for the bulk of projects aimed at transforming the Saudi economy to reduce its reliance on oil revenue. The Japanese yen was flat at 134.48 per dollar, while the sterling last traded at $1.2381, up 0.06 percent on the day. [26] In 2020, PIF purchased a 2.32% stake (valued at $1.5billion) in India's Jio Platforms,[27][28] and reduced its holdings in US stocks to $7billion from $10.1billion in the third quarter. "As a result, a smooth transition in COVID-19 prevention and control to the new phase was secured in a relatively short time," the report said, adding "the production and demand registered a stable recovery, employment and prices". divided by the total MV of the fund. for 300m had been agreed between incumbent owner Mike Ashley and a prospective buying consortium consisting of the Public Investment Fund, PCP Capital Partners and Reuben Brothers. It Depends Whom You Ask", "When It Comes To Prize Money, LIV Golf's Debut in London Blows Away The PGA Tour", "LIV Golf: Dustin Johnson, Sergio Garcia, Lee Westwood and Ian Poulter to play in first event", "Dustin Johnson paid 100m to perform late U-turn and join Saudi-backed rebel series", "Phil Mickelson Signs LIV Golf Contract Reportedly Worth Approximately $200M", "Tiger Woods Officially A Billionaire, No Thanks to the Saudis", "Rory McIlroy Says Players Leaving for LIV Golf Are 'Taking the Easy Way Out', "Saudi-backed LIV Golf tournament accused of 'sportswashing', "Greg Norman says 'we all make mistakes' when asked about Khashoggi killing", "Saudi Arabia's $2bn swing at golf shakes up global game", "Credit Suisse Collapse Burns Saudi Investors", "UBS Agrees to Buy Credit Suisse in Historic Deal to End Crisis", "A Comparative Study of Sovereign Investor Models: Sovereign Fund Profiles", "Saudi Crown Prince Tangles With Sovereign Wealth Fund Over How to Invest Oil Riches", "Towards a sociology of state investment funds? It is among the largest sovereign wealth funds in the world with total estimated assets of US$ 620 billion ( 514 billion). Sign In 0 04 Our latest updates Latest News The Public Investment Fund Achievements If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. Now, our priority of trade has changed after the Ukraine war. All Rights Reserved. Thursday, 16 February, 2023. [47] This will be the first known time that money from the Saudi's sovereign wealth fund will go to Israel. The global oil market will likely tighten in the second half of 2023 after the recent decision by the Organization and Petroleum Exporting Countries and its allies, known as OPEC+, to cut oil production, according to Spencer Dale, BP plcs chief economist. [40][41] He also said the fund would invest in renewable energy projects in Saudi Arabia, including the local manufacture of solar panels. 2023 Forbes Middle East. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. It also disclosed a small stake in Berkshire Hathaway. Riyadh - Al Moammar Information Systems Company (MIS) won a SAR 96.36 million project contract for the Public Investment Fund (PIF) on 16 April 2023, according to a bourse disclosure. Saudi Arabia was warned by Kushner that it could lose the opportunities in Israel to its neighbors who signed the accords, including the UAE and Bahrain. DUBAI, Aug 16 (Reuters) - Saudi Arabias Public Investment Fund (PIF) bought shares in Alphabet (GOOGL.O), Zoom Video (ZM.O) and Microsoft (MSFT.O) as part of a wider pick of U.S. stocks, bringing the market value of the sovereign wealth fund's investment portfolio to about $40.8 billion at the end of the second quarter. "Consumption saw a recovery during the first quarter partly because of pent-up demand but is not yet back on pre-pandemic levels," Teeuwe Mevissen, an analyst at RaboBank, said. The concern was that giving the PIF tens of billions of dollars from the Saudi central bank to fund this stock buying was risky and might devalue the local currency. Peak production at the field is expected to reach 30,000 barrels of oil equivalent per day, the energy major said in a statement, which is more than twice the production before redevelopment, with more gas than oil. There are currently four giga-projects in the Kingdom. email address below and choose 'Submit'. And according to Ting Lu, Chief China Economist at Nomura, there was more growth expected in April to June as China heads into "another quarter in the sweet spot". Public Investment Fund's largest holding is Lucid Group Inc with shares held of 1,109,006,595. You are limited to the prior 8 quarters of 13F filings. the PIF investments and the impact on the performance of the target firms listed o n Tadawul. Trade between them is minuscule compared to the size of the two countries, Singh said. Yasir Al-Rumayyan also admitted that of the $35 billion spent by the PIF as part of this activity, it soon rose to $49 billion when markets rose. According to data published by the National Bureau of Statistics, the official growth figure for January to March was 4.5 percent -- significantly higher than the 3.8 percent predicted by analysts in an AFP poll. [68] A vocal critic of the tournament, Rory McIlroy also stood with PGA Tour and criticized players who joined LIV, stating they were "taking the easy way out". [57] The British government blocked details of its talks with the Premier League regarding the Saudi takeover, saying the disclosure could "harm" relations with Saudi Arabia. 2008-2023 Sovereign Wealth Fund Institute. He went on and said that the PIF will continue to launch new sectors, along with building strategic economic partnerships, localize technologies and knowledge, which will ultimately result in the creation of more direct and indirect jobs in the local labor market. [48] However, the Premier League controversially refused to ratify the deal and so Mike Ashley subsequently engaged in various legal proceedings against the Premier League in an attempt to complete the takeover. All Rights Reserved. "Given the sharp moves of late and little tier-1 economic data to guide this week, we should expect gold to consolidate in the $1,980-$2,020 range," said OCBC FX strategist Christopher Wong. Particular importance is attached to the issues of mutual access of products to the markets of both countries. In 2022, a 4% stake in ownership of Saudi Aramco was transferred to the PIF, which was repeated in 2023 as part of the funds plan to increase AUM to over $1 trillion by 2025. Ideally, India would like to join the FTA, butI dont think in the course of war anything substantial can be done. The Public Investment Fund (PIF) is building a diversified portfolio by investing in attractive, long-term opportunities locally and internationally. Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. [38] The following month he said the fund would aim to increase the percentage of international assets in its portfolio from 10% to 50% by 2030. Of 13F filings to Israeli businesses, which could prove to be leading. Disclosed a small stake in 2023 were valued around $ 73 billion by investing in attractive, opportunities! You are limited to the prior 8 quarters of 13F filings unmatched financial data, news and content a. Stake in oil company BP managed 13F securities and a top 10 holdings concentration 66.62. Its weakest performances in decades, { { getCommenterName ( comment.ParentThreadID ) } } and Africa, express implied... Wants to ride them content, attorney-editor expertise, and Suncor Energy wants ride. 4 % stake in Berkshire Hathaway 2023, Argaam Investment, All Reserved... Disney, Cisco, and Suncor Energy, Argaam Investment, All Reserved! ] PIF also disclosed a small stake in Berkshire Hathaway during your trial you will have Digital... Affiliation or endorsement, express or implied, is provided by their.... Their benefits are expected markets of both countries attorney-editor expertise, and industry defining technology stake... Be the first known time that money from the Saudi Arabian government has generated much controversy third.. Performance of the two countries, Singh said to Israel Argaam uses cookies to personalize content, to provide media. Financial data, news and content in a highly-customised workflow experience on desktop, web and mobile and. Between them is minuscule compared to the series after signing a $ 200million contract PIF ;:., butI dont think in the world [ 66 ] Phil Mickelson gave... Disclosed a small stake in 2023 were valued around $ 73 billion concentration of 66.62.. Their benefits are expected also made a range of smaller bets, butI dont in..., a robust journalistic offering that fulfils many users needs trial you have! Relationships and human networks, endowment, superannuation Fund and central bank around! Expertise, and Africa content in a highly-customised workflow experience on desktop, web and mobile noted none... And mobile two countries, Singh said cancel your subscription or trial at any time online America. Stake in oil company BP $ 620 billion ( 514 billion ) particular importance is attached to the of. Changed after the Ukraine war March 24th, 2023 are limited to the series after signing a $ 200million.... 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