Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. The fund has also built up a stake of roughly 5% in Tesla (. Markets are pricing in a 91 percent chance of the Fed raising interest rates by 25 basis points at its next meeting in May, the CME FedWatch tool showed, with traders expecting rate cuts toward the end of the year. In October 2022, Yasir Al-Rumayyan (the governor of PIF) gave an interview where he spoke about resisting the ambitious international stock buying activities being promulgated by Mohammad bin Salman at the beginning of 2020 as the world was grappling with COVID-19. For cost savings, you can change your plan at any time online in the Settings & Account section. MIS will be responsible for the supply and integration of the audio, visual, digital signage, and smart services solutions . Lists Featuring This Company Venture Capital Investors with Investments in Moscow City 206 Number of Organizations $15.7B Total Funding Amount 52 Number of Investors Track Finance Companies With More Than 10 Employees (Top 10K) You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. [8] [9] $100 billion was raised with PIF contributing $45 billion, SoftBank contributing $28 billion, the Mubadala Investment Company contributing $15 billion and the rest from other investors including Apple. Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. [11] The board says PIF is aligned with the government's Vision 2030[12] with the aim to diversify the economy. The Public Investment Fund (PIF) is building a diversified portfolio by investing in attractive, long-term opportunities locally and internationally. [40][41] He also said the fund would invest in renewable energy projects in Saudi Arabia, including the local manufacture of solar panels. Gold is considered a hedge against inflation and economic uncertainties, but higher interest rates dim the non-yielding bullion's appeal. The crown prince revealed that the state remains Aramcos biggest shareholder, owning 90.18 percent stakes in the firm, Saudi Press Agency reported. or to simply have an email sent to you whenever we receive a new The Biden administration this year has sold 26 million barrels of crude from the reserve through release mandated by Congress in previous years. The Public Investment Fund (PIF; Arabic: ) is the sovereign wealth fund of Saudi Arabia. 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. [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. Minutes of the last Reserve Bank of Australia meeting showed that the central bank considered an 11th-consecutive rate hike in April before deciding to pause. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. You are limited to the prior 8 quarters of 13F filings. We support credit card, debit card and PayPal payments. "[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. Saudi Arabias Public Investment Fund has bought $8.2 billion worth of new investments in global stocks. There is a scope for oil markets to tighten a bit in case Chinas oil demand and its overall economy recovers, Dale told reporters in a press conference. 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. In Fitch's view, SRC is ultimately controlled by the state through PIF, so Fitch directly links the rating to the state under the . [1/4]Small figurines are seen in front of displayed Alphabet logo in this illustration taken February 11, 2022. USgold futures rose 0.2 percent to $2,010.20. 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. Concept papers shall be delivered to: pif@formin.fi. DUBAI, Nov 15 (Reuters) - The Public Investment Fund (PIF), Saudi Arabia's sovereign wealth fund, nearly tripled its holdings of U.S.-listed stocks to $43.45 billion in the third quarter,. I dont think the West will really take it that seriously if India does go ahead with the deal, Pant told Arab News. [3] According to Steffen Hertog, a professor at the London School of Economics, the PIF "is seen as opaque, a black box. Business-oriented and enthusiastic Strategy Consultant with leadership, management, and solution design skills. [8] offers FT membership to read for free. [21][22] PIF owns a 5.7% stake (valued at $500million) in concert distributor Live Nation. 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%. The Softbank Vision Fund was created in May 2017 by the Softbank Group and the Public Investment Fund (PIF). The PIF's wagers on Carnival and Live Nation, which itrevealed in April filings, were valued at $457 million and $416 million respectively at the end of March. The crown prince further added that the transfer will help maximize the assets of the Public Investment Fund and could enhance the PIFs strong financial position and credit rating. Bin Salman threatened that there would be economic consequences for the UK if the government blocked the takeover these threats occurred in the context of a strategic partnership between the Saudis and the UK where the Saudis proposed to invest $30 billion into the UK economy over a ten-year period. RIYADH: A 4 percent stake in energy giant Saudi Aramco has been transferred from state ownership to Sanabil Investments, the investment arm of the Kingdom . Saudi Arabia's Public Investment Fund (PIF) has established five regional investment companies in Jordan, Bahrain, Sudan, Iraq and Oman, Crown Prince Mohammed bin Salman announced on Wednesday . "Loss in household wealth due to the real estate crisis and loss of household income during the pandemic are factors why consumers have not spent more.". PIF is mandated to invest and fund domestically and internationally in various key strategic sectors and asset classes including technology, financials, telecom, real estate, utilities, and giga projects, to promote the diversification of the national economy. Mohammed bin Salman indicated that this transfer of stakes is a part of Saudi Arabias long-term initiatives to boost and diversify the national economy and expand investment opportunities in line with Saudi Vision 2030. [81], Former Donald Trump administration officials, Council of Economic and Development Affairs, "Before Giving Billions to Jared Kushner, Saudi Investment Fund Had Big Doubts", "Public Investment Fund (PIF) - Sovereign Wealth Fund, Saudi Arabia - SWFI", "Saudi Wealth Fund May Be World's Least Transparent", "The Public Investment Fund and Salman's state: the political drivers of sovereign wealth management in Saudi Arabia", "Newcastle United sold to Saudi consortium amid concerns about human rights abuses", "Saudi sovereign wealth fund scrambles for resources", "Bloomberg - The Key Questions Asked About Saudi Arabia's $2 Trillion Fund", "Saudis refine blueprint for post-oil economy", "Cabinet Session 23-3-2015 - kingdom of Saudi Arabia - Ministry of Foreign Affairs", "Financial Times - The Saudi Reshuffle: five key reforms in Riyadh, May 2016", "Saudi Arabia Transfers Nearly $78 Billion of Aramco Shares to Wealth Fund", "Biggest Gulf Wealth Funds Are Faulted for Lagging on Governance", "Saudi acquires 5% stake in Capcom and Nexon gaming firms worth $1bn", "Qiddiya Investment Company officially established as standalone company", His Royal Highness the Crown Prince Announces the Launch of The Red Sea project as an international tourist destination as part of the Kingdoms 2030 Vision, Saudi Arabia launches luxury Red Sea beach resorts plan, "UPDATE 1-Saudi NEOM set up as joint stock company run by state fund", "Saudi Arabia announces creation of Neom Company", "Saudi fund acquires $500m stake in Live Nation as the company balances 'doing the right thing' with its $3.8bn cash pot", "Saudi sovereign fund discloses stakes in Citi, Boeing, Facebook", "Saudi Sovereign Wealth Fund Buys Stakes in Facebook, Boeing, Cisco Systems", "Saudi Arabia's Public Investment Fund invests billions of dollars in Boeing, Disney and Facebook shares", "Jio-PIF deal: All you need to know about Saudi Arabia's PIF, the latest investor in Jio Platforms", "Reliance Industries' Jio Platforms Has Raised INR 1.16 Lakh Crore Within 9 Weeks Through These 11 Deals", "Saudi Wealth Fund Cuts U.S. Stock Holdings, Holds On to Uber", "SoftBank Group Corp. to Establish SoftBank Vision Fund", "SoftBank Vision Fund Posts $17.7 Billion Loss on WeWork, Uber", "Blackstone, Saudis set to invest $40billion in primarily U.S. infrastructure", "Saudi-US arms deal includes plans for 150 Lockheed Martin Black Hawk helicopters", "Saudi Arabia to raise size of state wealth fund to $400bn", "Saudi's PIF commits $20 bln to $40 billion fund with Blackstone", "Huge Saudi fund to be conservative borrower, chief says", "Saudi Wealth Fund Plans to Borrow to Double Investment Returns", "Saudi Arabia's PIF raises $11bn through maiden syndicated loan facility", "Saudi Public Investment Fund invested in 50-60 firms via SoftBank fund", "PIF to open offices abroad as it seeks to boost foreign investments", "Saudi Wealth Fund Plans San Francisco Office", "Saudi Arabia acquires $1bn stake in Embracer Group", "Saudi woman given 34-year prison sentence for using Twitter", "Mnuchin's Private Equity Fund Raises $2.5 Billion", "Jared Kushner's New Fund Plans to Invest Saudi Money in Israel", "Newcastle United takeover deal worth 300m close", "Newcastle hire lawyers in dispute with Premier League over failed Saudi-led takeover", "Newcastle take Premier League to competition tribunal over takeover collapse", "PIF, PCP Capital Partners and RB Sports & Media acquire Newcastle United Football Club", "Newcastle takeover completed: Saudi-led consortium end Mike Ashley's 14-year ownership", "PL told to analyse human rights record for new owners by Amnesty International", "Amnesty voices human rights concerns as Saudi takeover of Newcastle looms", "Newcastle United: UK blocks details of Premier League talks to protect Saudi relations", "Newcastle's Saudi takeover: The UK government's emails revealed", "Saudi crown prince asked Boris Johnson to intervene in Newcastle United bid", "Angry Premier League clubs demand emergency meeting on Newcastle deal", "Greg Norman named CEO of Saudi group launching 10-event series on Asian Tour. INVESTMENT SAUDI ARABIA TECHNOLOGY. PIFs giga-projects, designed to create new ecosystems and unlock new sectors, are heavily enabled by and promote technology and knowledge in Saudi Arabia. On 19 March 2023, UBS confirmed the planned acquisition of Credit Suisse by UBS. So, it is not only the figures we are looking at, but the quality of these figures, the quality of these jobs, said Al-Rumayyan. [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. Saudi PIF backed the event with $2billion in funds. 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. . In May 2022, they purchased a 5% stake in the Japanese video game company Nintendo,[43] and the following month, an 8% stake in Embracer Group with a $1 billion investment. The government is looking to increase work within the sports sector and has an important strategy in place. Public Investment Fund Follow Saudi Arabian Investment Company J.S.C.C Follow DUBAI, April 16 (Reuters) - A 4% stake in oil major Saudi Aramco (2222.SE) has been transferred from state. The Chinese economy is also beset by a series of other crises, from a debt-laden property sector to flagging consumer confidence, global inflation, the threat of recession elsewhere, and geopolitical tensions with the US. As part of this process, a new PIF was appointed, chaired by Crown Prince Mohammed bin Salman. Current Assets for PIF is $607,418,895,000 and SWFI has 42 periods of historical assets, 17 subsidiaries, 14 Opportunities/RFPs, 197 personal contacts available for CSV Export. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. cookies [52], Human rights organizations criticized the Premier League for allowing PIF to purchase a Premier League club. [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. It also disclosed a small stake in Berkshire Hathaway. [13] To bolster the resources of the PIF and help in the financing of investments into foreign companies such as Uber and Tesla, the PIF received cash from the Saudi Central Bank, issued debt, and benefitted from the proceeds of the privatisation of Saudi state assets.[7]. [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. They also include investment shares in companies in the Kingdom as well as the 'Middle East North Africa' (MENA) region, including listed joint-stock companies or private companies. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. All rights reserved. Public Investment Fund's largest holding is Lucid Group Inc with shares held of 1,109,006,595. 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. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. Particular importance is attached to the issues of mutual access of products to the markets of both countries. 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. LIMIT THE USE OF MY SENSITIVE PERSONAL INFORMATION, % of top 20 holdings the same as top 20 most commonly held by all managers. The USdollar index was 0.2 percentlower and made bullion cheaper for overseas buyers. 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? "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. 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. "Due to a sharp drop in the comparison bases as a result of the Shanghai lockdown last year amid ongoing strength in the in-person services sector, we expect year-on-year GDP growth to rebound further in the second quarter," he said. The kingdom's Public Investment Fund grew its US stock portfolio from about $2.2 billion at the end of December to $9.8 billion at the end of March,according to a Securities and Exchange Commission filing last week. [3] The wealth fund has been controlled by Crown Prince Mohammed bin Salman, Saudi Arabia's de facto ruler since 2015. Indias imports from Russia more than quadrupled to over $46 billion over the last fiscal year, mainly through oil, which had been available only in small quantities before the war that began in February last year. The giga-projects are designed to stimulate the economy and their benefits are expected . The $300 billion fund, which aims to diversify Saudi Arabia's economy away from oil, likely capitalized on the coronavirus sell-off to purchase the stocks at bargain prices. Check if your 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. containing a link to download the .zip file of the CSV file(s) you requested. The FPSO, owned and operated by Bluewater, stopped production in October 2021 to enable the fields upgrade. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. 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. FILE - Storage tanks are seen at the North Jiddah bulk plant, an Aramco oil facility, in Jiddah, Saudi Arabia, on March 21, 2021. The latest filing also confirmed reports that the fund invested in a range of European oil companies last quarter. It also divulged its direct investment portfolio, which included the machine learning-based discovery engine Atomwise, customer experience software company ActionIQ and cybersecurity platform Vectra, to name a few. [69], LIV Golf was also condemned as another sportswashing tool of Saudi Arabia, which is accused of several human rights violations, including the assassination of Jamal Khashoggi. Fund's Sanabil Investments arm publishes first list of partners. Simply log into Settings & Account and select "Cancel" on the right-hand side. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. [1] According to ethics experts, the investment created the appearance of potential payback for Kushner. SWFI is a minority-owned organization. [23] In 2020, PIF purchased minority stakes in major U.S. companies including Boeing, Facebook and Citigroup. The CME FedWatch tool shows that markets are pricing in a 87.4 percent chance of a 25 basis point hike in May. The Program seeks to enhance the economic and investment sustainability . The state remains Aramco's biggest shareholder, owning 90.18% of the company. 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). [1][4], The present governor of PIF is Yasir Al-Rumayyan, serving under bin Salman. The dollar index, which measures the currency against six major rivals, eased 0.078 percent to 102.01 after rising 0.5 percent overnight. Sign In 0 04 Our latest updates Latest News The Public Investment Fund Achievements Gold prices fell to nearly a two-week low on Monday after data showed manufacturing activity in New York state increased for the first time in five months, and confidence among USsingle-family homebuilders improved for a fourth straight month in April. Editing by David Goodman, US warns companies over Russian oil price cap evasion via ESPO pipeline, BP's chief economist sees oil market tightening by H2 2023, Oil slips on economy worries, despite upbeat China data, Exxon declares force majeure on crude liftings in Nigeria, Nissan unveils new EV for China as it aims to up game in no. PIF advisers raised questions about the merits of the investment, but PIF management overruled the advisers. When completed, an email will be sent to the email address you specify The Kingdom didn't have diplomatic relations with Israel and was neither a part of the Abraham Accords. [80], Some of PIF's assets were transferred to the organization in 2017 after the Saudi regime conducted an "anti-corruption" purge whereby assets of 400 of Saudi Arabia's richest individuals were seized by the regime. No affiliation or endorsement, express or implied, is provided by their use. SEC form, multiple filers or classes of filers, and much more.***. 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. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. DUBAI, April 16 (Reuters) - A 4% stake in oil major Saudi Aramco (2222.SE) has been transferred from state ownership to Sanabil Investments, which is wholly owned by the Saudi Arabia's sovereign wealth fund, Crown Prince Mohammed Bin Salman said on Sunday. On the other hand, the fund exited five companies, namely Cisco, Berkshire Hathaway, Booking, Union PacificCorp.(UNP), and CNQ, along with theReal Estate Select Sector SPDR Fund and the Materials Select Sector SPDR Fund. [1] [2] It was created in 1971 for the purpose of investing funds on behalf of the . [63] In June 2022, LIV Golf Invitational Series commenced its eight-event journey, with total prize money of $255million. An AFP poll of analysts predicted that the Chinese economy would grow by an average of 5.3 percent this year, roughly in line with the International Monetary Fund's 5.2 percent forecast. 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. This research conducted three multiple regression mo dels to measure the re lation between . Shell has restarted operations at the Pierce field in the UK Central North Sea, following an upgrade to allow gas to be produced after years of producing only oil. Share Logo of the Public Investment Fund (PIF) Brazil's BRF Co. stated that it signed a memorandum of understanding (MoU) with the Public Investment Fund ( PIF) to establish a joint venture (JV) to produce and sell poultry products in the Kingdom. 2008-2023 Sovereign Wealth Fund Institute. 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". [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. These investments maximize the value of PIF portfolio companies and achieve long-term sustainable returns. You must have a subscription to view WhaleScore histories. The PIF acquired 213,000 class A shares in Alphabet, 4.7 million class A shares in Zoom and 1.8 million shares in Microsoft, a U.S. Securities and Exchange Commission filing showed. Meanwhile, the euro was up 0.07 percent to $1.0934 but was below the one-year high of $1.10755 it touched last week, with traders expecting the regions central bank to stick to its monetary tightening path. The government has set a comparatively modest growth target of around five percent this year, a goal the country's Premier Li Qiang has warned could be hard to achieve. Global Wealth Conferences - SWFI Event Series, Information Technology and Communications Complex, Building CS01, Al Nakhil District, P.O. Spot gold was up 0.3 percent at $2,000.09 per ounce, as of 0642 GMT. Geographically, PIF has expanded its investments in North America, Europe, Asia, Latin America, and Africa. The dollar can remain sensitive to the strength, or not, of the economic data as the Fed likely nears the end of their tightening cycle, said Kristina Clifton, an economist at the Commonwealth Bank of Australia. 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 . [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. Sign-up More than half of the investments have come in two sectors: Travel, Tourism and Entertainment and Traditional Energy aka oil companies. [1][46], In May 2022, it was reported that Affinity Partners was planning to direct Saudi Arabia's PIF money to Israel. It also revealed stakes worth between $480 million and $500 million in Disney, Cisco, and Suncor Energy. 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. Signing an FTA would be Russias way of saying that they are serious about economic relations with India, Pant said. Separately, PIF has invested $3.5 billion in Uber in 2016, and its managing director Yasir Al Rumayyan sits on the company's board. [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. commentary and analysis you can trust. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Iris Pang, the chief economist for Greater China at ING, said the primary reason for the faster-than-expected growth was the much stronger growth in retail sales, which were "mainly boosted by catering". Tuesday's NBS report said in the first three months of the year China had faced a "grave and complex international environment as well as arduous tasks to advance reform, development and ensure stability at home", but that economic stability was Beijing's "top priority". SRC is wholly owned by the Public Investment Fund of Saudi Arabia (PIF), whose ownership cannot be below 51% as per Royal Decree. In a statement published by CNNMoney, Al Rumayyan said: "We've seen first-hand how this company has improved urban mobility around the world and we're looking forward to being part of that progress . Opinions expressed in the comments section do not reflect the views of Argaam. It is considered a pioneering economic catalyst for the Saudi Arabia and an effective component of a thriving economy. Is looking to increase work within the sports Sector and has an important in! And achieve long-term sustainable returns provide social media features and analyze traffic, that we also. And content in a 87.4 percent chance of a 25 basis point in... Markets are pricing in a 87.4 percent chance of a thriving economy America. 22 ] PIF owns a 5.7 % stake ( valued at $ 500million ) in concert distributor Live Nation serving. 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