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Bloomberg, citing a bond prospectus, has reported that Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), delivered a shareholder return of 25% last year. The prospectus for the PIF’s debt green bond sale, states that the yields more than doubled from an annual average of 12% between 2017 and 2020.
According to the report, PIF shareholders’ return last year was about in line with that of S&P 500 Index investors, who had a 27% increase during the same timeframe.
Returns in line with S&P 500 Index
With around $620 billion in assets under management, the state fund is developing a global portfolio of investments while simultaneously making local investments in initiatives that will lessen Saudi Arabia’s dependency on oil.