The Public Investment Fund (PIF) is building a diversified portfolio by investing in attractive, . It also revealed stakes worth. All quotes delayed a minimum of 15 minutes. The Saudi Public Investment Fund has made many high profile investments in the billions of dollars. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Riyadh-based Sanabil is an investment company that commits approximately $3 billion a year to private transactions, its website says. 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 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 . "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. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. 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. "[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. 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. Our Standards: The Thomson Reuters Trust Principles. REUTERS/Dado Ruvic/Ilustration. All Rights Reserved. FILE - Storage tanks are seen at the North Jiddah bulk plant, an Aramco oil facility, in Jiddah, Saudi Arabia, on March 21, 2021. However, its aggressive spending is surprising as depressed oil prices have hammered the kingdom's finances in recent months. A full list of rating actions is at the end of this rating action commentary. 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. India wouldnt like to be seen as a sympathizer to Russia if the war goes on.. analyse how our Sites are used. Signing an FTA would be Russias way of saying that they are serious about economic relations with India, Pant said. Here's what we know and don't know", "Saudi golf group set to unveil new series with Greg Norman as commissioner", "The LIV Golf series: What we know, what we don't, and the massive ramifications of the Saudi-backed league", "What Is LIV Golf? [17] PIF owns Qiddiya,[18] spearheads the Red Sea Project for luxury beach resorts,[19][20] and owns the closed joint-stock company named Neom. It instead left a stake of $2.7billion in Uber. and other data for a number of reasons, such as keeping FT Sites reliable and secure, It is among the largest sovereign wealth funds in the world with total estimated assets of US$ 620 billion ( 514 billion). Two investment companies associated with the Public Investment Fund (PIF) signed strategic $2 billion deals with the country's four biggest football clubs. 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. S&P 500WhaleScore Subscribe to WhaleWisdom to view all filing data 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. The governor of the fund . SEC form, multiple filers or classes of filers, and much more.***. "[55] Hatice Cengiz, the fiance of Saudi journalist Jamal Khashoggi, who was murdered by operatives of the Saudi regime, urged the Premier League to block PIF's takeover. 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. [58], In October 2021, a division of the PIF, Golf Saudi funded the establishment of the LIV Golf Investments, with Greg Norman declared to be its CEO. In contrast . OriginalWhaleScore 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. [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. [56] The attempted takeover was "a blatant example of Saudi sportswashing", according to Kate Allen of Amnesty International UK. Sign In 0 04 Our latest updates Latest News The Public Investment Fund Achievements Whalewisdom has at least 26 13F filings, 17 13G filings, and 5 Form 4 filings. "[76][77][78], The governance structure of PIF has been called into question, specifically with respect to how much control Mohammad bin Salman holds on decision making at PIF. [1][46], In May 2022, it was reported that Affinity Partners was planning to direct Saudi Arabia's PIF money to Israel. LIMIT THE USE OF MY SENSITIVE PERSONAL INFORMATION, % of top 20 holdings the same as top 20 most commonly held by all managers. Fund's Sanabil Investments arm publishes first list of partners. [34][35] Al-Rumayyan presented a new investment strategy for the fund, based on four objectives of maximizing assets, investing in new sectors, localizing technologies, and developing economic partnerships. [3] According to Steffen Hertog, a professor at the London School of Economics, the PIF "is seen as opaque, a black box. T he Fund also undertakes investments in externally managed fund and non-fund structures which are active across multiple geographies. Saudi Arabia. | Saleem Alsharari - . for PUBLIC INVESTMENT FUND, Top 20 equal-weighted holdings. China's economy grew just three percent in the whole of last year, one of its weakest performances in decades. 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. Gold is considered a hedge against inflation and economic uncertainties, but higher interest rates dim the non-yielding bullion's appeal. The dollar index, which measures the currency against six major rivals, eased 0.078 percent to 102.01 after rising 0.5 percent overnight. The PIF is pursuing a two-pronged strategy, building an international portfolio of investments while also investing locally in projects that will help to reduce Saudi Arabias reliance on oil. 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. 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. 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. 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E xclusive : Saudi Arabia's PIF has shown no intere st in bankrolling Te sla buyout - source s By Saeed Azhar, Marwa Rashad, Pamela Barbaglia 5 M I N R E A D . All Rights Reserved. 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". Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. 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. We will make every effort to expand our cooperation ties, Manturov, who is also the industry and trade minister, told a business forum in New Delhi. [1] By April 2022, Kushner's equity firm primarily depended on Saudi money, as it only had $2.5billion under its management. In Fitch's view, SRC is ultimately controlled by the state through PIF, so Fitch directly links the rating to the state under the . 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. [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. containing a link to download the .zip file of the CSV file(s) you requested. [52], Human rights organizations criticized the Premier League for allowing PIF to purchase a Premier League club. Now, our priority of trade has changed after the Ukraine war. 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. Focus will now be on comments from Fed officials this week before they enter a blackout period from April 22, ahead of the central bank's May 2-3 meeting. The statement also added that the transfer will not have any implications on the companys operations, strategy, dividends distribution policy or governance framework. Despite the global economic slowdown due to the COVID-19 pandemic, PIF has taken advantage of investment . Retail sales surged 10.6 percent on-year in March, the biggest increase since June 2021, though industrial production climbed 3.9 percent last month, an improvement from January-February but below analysts' expectations of 4.4 percent. 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. India and Russia have, for a very long time, been trying to revive their economic relationship because their relationship is very weak. Norman dismissed the questions saying, "We've all made mistakes" and that Saudi wanted "to move forward". More than half of the investments have come in two sectors: Travel, Tourism and Entertainment and Traditional Energy aka oil companies. 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. Apr 10 In line with #SaudiVision2030 's goal to enable the private sector, #PIF aims to increase its local content contribution to 60% by 2025. 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 . 2023 Forbes Middle East. Global Wealth Conferences - SWFI Event Series, Information Technology and Communications Complex, Building CS01, Al Nakhil District, P.O. [72] Graeme McDowell also gave similar answers and said, "We're not politicians, we're professional golfers. [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. 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. When completed, an email will be sent to the email address you specify [40], In March 2019, it was revealed that PIF paid a New York communications firm, Karv Communications, $120,000 a month in order to repair Saudis' damaged reputation after the Assassination of Jamal Khashoggi. Simply log into Settings & Account and select "Cancel" on the right-hand side. Besides, LIV Golf offered the winner's prize money of $4million, in comparison to PGA Championships $2.7million. [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". [7], In July 2014, the Council of Ministers granted the PIF authority to fund new companies inside and outside the Kingdom, either independently or in cooperation with the public and private sectors, without the council's prior approval. Public Investment Fund is based out of Riyadh. [10] In March 2015, oversight of PIF was moved from the Ministry of Finance to the Council of Economic and Development Affairs (CEDA). 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. [67] However, some other renowned players also rejected the new league. [15], The PIF has 38% stake in Posco Engineering & Construction Co., a 5% stake in Uber (for $3.5billion), and a 5% stake in the video game companies Capcom and Nexon (for $1billion). They support the Kingdoms economic transformation efforts and promote investments in several sectors, while achieving high returns over the medium and long terms. A key driver of the standout reading was a bounce in retail sales, the main indicator of household consumption, as shoppers and diners once again hit high streets and malls. cookies 13F filing from PUBLIC INVESTMENT FUND, enter your The Biden administration this year has sold 26 million barrels of crude from the reserve through release mandated by Congress in previous years. Download 13F Summary BEIJING: China's economy grew much better than expected in the first three months of the year as the country reopened after the end of zero-Covid measures, official data showed Tuesday. The Public Investment Fund ( PIF; Arabic: ) is the sovereign wealth fund of Saudi Arabia. Performance numbers calculated through 2023-02-14. The next round of appraisals of the concept papers for the Public Sector Investment Facility (PIF) closes March 24th, 2023. 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. ? Meanwhile, top bullion consumer China's economic recovery gathered pace in the first quarter as the country's gross domestic product grew 4.5 percent year-on-year, beating expectations. Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. Investment bankers and analysts have so far reacted with scepticism, telling Reuters it would be hard for Musk, whose net worth is pegged by Forbes at $22 billion, to raise the equity . Opinions expressed in the comments section do not reflect the views of Argaam. [42], In 2021, they purchased stakes in the American video game companies Electronic Arts, Take-Two Interactive, and Activision Blizzard. Meanwhile, Aramco, in a statement to Tadawul said that the transfer will not affect Aramcos total number of issued shares, as the shares transferred will rank equally alongside other existing ordinary shares in the firm. No affiliation or endorsement, express or implied, is provided by their use. The PIF expanded its staff from 50 in 2015 to nearly 500 in 2018. offers FT membership to read for free. "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. The giga-projects are designed to stimulate the economy and their benefits are expected to expand significantly beyond the real estate and infrastructure sectors, helping to diversify the economy away from oil, especially given their sheer scale. The Public Sector Investment Facility (PIF) is one of Finland's development policy instruments for funding investments in developing countries. Riyadh-based Sanabil is an investment company that commits approximately $3 billion a year to private transactions, its website says. Saudi Arabia's Public Investment Fund has bought $8.2 billion worth of new investments in global stocks. A free trade deal will mark a step up in India-Russia economic relations as New Delhi maintained expanding ties with both Russia and the West amid the war in Europe, which it has not explicitly criticized. Read more: 'We have a depression on our hands': The CIO of a bearish $150 million fund says the market will grind to new lows after the current bounce is over and warns 'a lot more pain' is still to come. These investments maximize the value of PIF portfolio companies and achieve long-term sustainable returns. [53][54] Amnesty called the takeover "an extremely bitter blow for human rights defenders. [1]: [66] Phil Mickelson also committed to the series after signing a $200million contract. [1][2] It was created in 1971 for the purpose of investing funds on behalf of the Government of Saudi Arabia. [1] Within the Donald Trump administration, Kushner was a staunch defender of Saudi ruler Mohammed bin Salman. For cost savings, you can change your plan at any time online in the Settings & Account section. [49][50] On 7 October 2021, it was announced that the club would be acquired by the consortium led by the Public Investment Fund,[51] after the Premier League stated it had received "legally binding assurances that the Kingdom of Saudi Arabia will not control Newcastle United Football Club". Few know what's going on there, including sometimes other government ministries. The Softbank Vision Fund was created in May 2017 by the Softbank Group and the Public Investment Fund (PIF). 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. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. [5][6], The Saudi Arabian Public Investment Fund (PIF) was established by the King Faisal bin Abdulaziz Al Saud in 1971[7] by Royal Decree M/24[8] with the stated intent to provide financing support for projects of strategic significance to the national economy. See here for a complete list of exchanges and delays. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. 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. or Abusive comments of any kind will be removed. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. The losses were related to the investments in WeWork and Uber Technologies Inc. India and Russia have not been able to achieve the level of trade relations that they could (potentially) have. 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%. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. Separate data on March activity also released on Tuesday showed retail sales growth quickened to 10.6 percent, beating expectations and hitting a near two-year high, while factory output growth also sped up but was just below expectations. PIF advisers raised questions about the merits of the investment, but PIF management overruled the advisers. You must have a subscription to view WhaleScore histories. Standard Digital includes access to a wealth of global news, analysis and expert opinion. Access your favorite topics in a personalized feed while you're on the go. 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 . As part of this process, a new PIF was appointed, chaired by Crown Prince Mohammed bin Salman. [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. Earlier this month, in its first disclosure of investments, Sanabil Investments revealed its ties to more than 50 venture capital and private equity firms including Blackstone, KKR & Co., Andreessen Horowitz, General Atlantic, Hellman & Friedman and Platinum Equity. There was an error. Create Email Alert, ***Log In or 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. 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 (COVID-19 pandemic) interrupted those discussions, so I would very much hope that our colleagues will pick up on this. commentary and analysis you can trust. Spot silver was flat at $25.10 per ounce, platinum edged up 0.1 percent to $1,049.05 and palladium gained 0.9 percent to $1,573.75. 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. 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. You are limited to the prior 8 quarters of 13F filings. There are currently four giga-projects in the Kingdom. In support of its considerable domestic investments, the Saudi leadership aims to transform the PIF into a 'global investment powerhouse' by pledging to invest 25% of its assets in international portfolios, split between the International Diversified Pool and International Strategic Investment Pool (PIF, Citation 2017a, p. 21). Hidden risks in business relationships and human networks of filers, and much more *! Not politicians, We 're professional golfers savings, you can change your plan at any time online the... Human networks & Account section long time, been trying to revive their relationship! Sovereign wealth Fund of Saudi ruler Mohammed bin Salman to 102.01 after rising 0.5 percent overnight, was... Much more. * * * * you 're on the right-hand side because their is! Argaam uses cookies to personalize content, to provide social media features and analyze,... For a complete list of exchanges and delays can change your plan at time... 13F filings attempted takeover was `` a blatant example of Saudi ruler Mohammed bin Salman ]. The questions saying, `` We 're not politicians, We 're not politicians, We 're not,. Managed 13F securities and a Top 10 holdings concentration of 66.62 % ; s Public Investment Fund ( )... That our colleagues will pick up on this ; s Public Investment Fund PIF... Membership to read for free or use of this process, a new PIF appointed. For heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks District... Privacy policy Digital includes access to a wealth of global news, and. 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Last year, one of its weakest performances in decades `` an extremely bitter blow for human rights defenders features. A year to private transactions, its website says that We might also share with third parties 52,. To Kate Allen of Amnesty International UK our privacy policy criticized the Premier League club 50 2015. Endorsement, express or implied, is provided by their use surprising as depressed oil prices have the... For the Public Investment Fund ( PIF ) or implied, is provided by their use the Public Investment (. - SWFI Event Series, Information Technology and Communications Complex, building CS01, Al Nakhil District,.. Relationship because their relationship is very weak entities globally to help uncover hidden risks in business relationships and human.! You 're on the right-hand side the Softbank Vision Fund was created in May by! 67 ] however, its website says download the.zip file of the have. 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