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FUND SETS UP 94 NEW COMPANIES

Saudi PIF tops global sovereign wealth fund brand rankings

RIYADH, May 30, 2024

Saudi Arabia's Public Investment Fund (PIF) has emerged as the world's most valuable sovereign wealth fund (SWF) brand in 2024, according to a report by Brand Finance.
 
The report surveyed over 4,400 entities, including companies, individuals, and media from the investment and financial sectors, to compile a list of 50 major asset management and SWF brands from around the world.
 
The report highlights the PIF's ambitious growth prospects, aligned with its 2030 targets, which contribute to enhancing the value of its brand.
 
The PIF stands out among other SWFs through its focus on investing in the local economy, launching new sector capabilities, and creating job opportunities, the report indicates.
 
Brand Finance estimated the PIF's brand value at $1.1 billion, making it the highest among the regional and international sovereign wealth funds included in the list.
 
The report attributes the PIF's advanced brand position to its impactful economic activities and investment performance.
 
Respondents in the survey expressed a positive outlook towards the PIF's innovative investment strategy and its role as a catalyst for growth and development.
 
With assets under management (AuM) exceeding $930 billion, the PIF actively engages in developing strategic sectors and opportunities that shape the future of the global economy.
 
It serves as an active investor and a key driver of economic transformation in the Kingdom. Since 2017, the fund has launched 94 new companies, providing over 644,000 local job opportunities.
 
For over 25 years, Brand Finance has been evaluating brand strength and determining its financial value. Its publication of more than 100 specialized reports ranks brands across various sectors and countries.-TradeArabia News Service



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