Riyadh, Saudi Arabia – The value of assets under Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF) assets—both domestic and foreign—in the Saudi financial market recorded an annual growth of 37 percent (by nearly SAR 43 billion or $11.44bn) by the end of the third quarter (Q3) of 2024.
This brings the total to SAR 160.087 billion, compared to SAR 117.117 billion during the same period in 2023.
Quarterly, the asset value grew by 10.4 percent, representing an estimated increase of SAR 15.120 billion, compared to SAR 144.967 billion at the end of the second quarter (Q2) of this year, according to data from the quarterly statistical bulletin of the Capital Market Authority for 2024.
The number of subscribers recorded a 51 percent increase, representing nearly 528,000 subscribers, to reach 1,570,452 subscribers, compared to 1,042,484 at the end of the same period last year.
This growth was supported by an increase in domestic investment assets, which grew annually by 42 percent, at SAR 39.598 billion, bringing the total to approximately SAR 134.431 billion. These assets represent 84 percent of the total asset value.
Meanwhile, foreign investment assets recorded an annual growth of 15.1 percent, increasing by over SAR 3 billion to reach SAR 25.656 billion, which accounts for 16 percent of the total asset value.
The number of public investment funds grew annually by 10 percent, with an increase of 27 funds, bringing the total to 310 funds.
Public investment fund assets were distributed across 14 investment types, with the highest value being the money market fund assets, valued at SAR 44.868 billion and representing 28 percent of total assets.
Equity fund assets ranked second in value at SAR 34.767 billion, accounting for 27.3 percent of total assets. Real estate investment fund assets were third, reaching SAR 29.263 billion and representing 18.3 percent of total assets. Debt instrument fund assets were fourth, valued at SAR 22.236 billion, making up 14 percent of total assets.