The Saudi Public Investment Fund (PIF) announced its annual report for 2024, which showed a substantial growth in total assets under management, reaching SAR 3.424 trillion, an increase of 19% compared to the previous year, when the figure stood at SAR 2.871 trillion.
Asset Breakdown and Allocation
In 2024, the assets under management were as follows:
- Global Investments: Strategic, diversified, and public market investments totaling around SAR 591 billion.
- Local Investments: Valued at SAR 2.722 trillion.
- Treasury Portfolio (non-investment): About SAR 81 billion.
The share of investments in Saudi companies increased from 27% in 2023 to 36% in 2024, while investments aimed at developing promising sectors accounted for about 30% of total assets. Investments in Saudi companies grew by 59%, reaching SAR 1.236 trillion.
Historical Asset Development (2021–2024)
| Portfolio | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Strategic Global Investments | 390 | 234 | 249 | 277 |
| Diversified Global Investments | 66 | 109 | 146 | 184 |
| Global Public Markets | 121 | 169 | 190 | 130 |
| Saudi Companies | 483 | 718 | 777 | 1,236 |
| Promising Sectors Development | 318 | 470 | 943 | 1,036 |
| Infrastructure & Real Estate | 170 | 204 | 233 | 239 |
| Major Saudi Projects | 35 | 121 | 241 | 211 |
| Treasury Portfolio (non-investment) | 397 | 204 | 72 | 81 |
| Total | 1,980 | 2,234 | 2,871 | 3,424 |
Sector Allocation
In 2024, investments were distributed across sectors as follows:
- Energy: 32.3%
- Real Estate: 13.8%
- Information Technology: 8.7%
- Telecommunications: 8.6%
- Financials: 6.0%
- Utilities: 5.9%
- Basic Materials: 4.5%
- Industrials: 3.3%
- Consumer Discretionary: 2.9%
- Consumer Staples: 1.1%
- Healthcare: 0.3%
- Unclassified (Cash, Deposits, Money Market Funds): 12.7%
The PIF’s 2024 report reflects a growing strategic shift toward domestic investments, particularly in Saudi companies and promising sectors. It also shows diversification between global and local assets, along with sustainable growth and consistent positive returns for shareholders over the medium term since 2017.
