Riyadh – Mubasher: The assets under management (AuM) of the Public Investment Fund (PIF) jumped by 19% year-on-year (YoY) to $913 billion at the end of 2024, with an annual average total portfolio return of 7.20% since 2017.
Total revenue hiked by 25% as of 31 December 2024, according to the Saudi fund’s report, which highlighted significant progress against PIF’s forward-looking investment strategy.
PIF’s portfolio anchors its position as one of the world’s largest and fastest-growing sovereign wealth funds (SWFs).
Its cumulative real non-oil GDP contribution between 2021 and 2024 grew to $243 billion.
Yasir Al Salman, PIF’s Chief Financial Officer, said: “PIF’s portfolio delivered year-on-year growth of assets under management of 19% to reach $913 billion. Capital deployment across priority sectors reached $56.8 billion in 2024, bringing cumulative investment since the beginning of 2021 to more than $171 billion.”
Maram Al Johani, PIF’s Acting Chief of Staff, commented: “Throughout 2024, PIF continued to lead with long-term vision and purpose. PIF deepened its impact and continued to drive the economic transformation of Saudi Arabia, while generating sustainable returns.”
“In 2024, PIF completed 58 digital projects, launched 15 new applications and automated more than 477 processes, enabling insights, strategy and the creation of economic value,” Al Johani noted.
Over 2024, PIF continued to diversify funding sources, raising $9.83 billion in public debt and an additional $7 billion in private debt.
In 2025, PIF tied for first place globally among 200 sovereign investors, with a score of 100%.
