Investment
Saudi Arabian Public Investment Fund says assets surpasses 2.23 trillion riyals in 2022 – Reuters
DUBAI, Aug 6 (Reuters) – Saudi Arabia’s Public Investment Fund on Sunday released its annual report for 2022, which said its assets under management (AUM) surpassed 2.23 trillion riyals ($594.43 billion).
The kingdom’s sovereign wealth fund reported an AUM of 1.98 trillion riyals for 2021.
The PIF said it generated a total shareholders’ return of 8% and established 25 companies in 2022, and locally deployed 120 billion riyals in that year in strategic sectors.
The PIF said 23% of its AUM were international investments, while 68% were local investments and the remainder were treasury.
The fund said 17% of its assets were externally managed, while 83% were internally managed.
PIF is the chosen vehicle of Crown Prince Mohammed bin Salman, the kingdom’s de facto ruler, to drive an economic agenda aimed at cutting reliance on oil.
PIF said the ongoing expansion of its three subsidiary offices in London, New York and Hong Kong would support the fund’s continued growth and “positioning PIF as the partner of choice for global investors”.
Its sources of funding come from retained earnings from investments, capital injections from the government, government assets transferred to the fund and loans and debt instruments.
The fund raised $5.5 billion in February from a green bond sale, following its inaugural green bond that raised $3 billion in October.
In addition, it obtained a $17 billion loan in November from a group of 25 banks that will partly refinance a loan it took out in 2018.
The crown prince in February last year announced the transfer of 4% of shares in Saudi Aramco, worth $80 billion, to the PIF.
In April, there was a second transfer of 4% in Aramco shares, valued also around $80 billion, to PIF’s subsidiary Sanabil Investments.
($1 = 3.7515 riyals)
Reporting by Ahmed Elimam; Editing by Alex Richardson
Our Standards: The Thomson Reuters Trust Principles.
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TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
The Canadian Press. All rights reserved.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
The Canadian Press. All rights reserved.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
The Canadian Press. All rights reserved.
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