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. [69], LIV Golf was also condemned as another sportswashing tool of Saudi Arabia, which is accused of several human rights violations, including the assassination of Jamal Khashoggi. | Saleem Alsharari - . It also acquired shares in JPMorgan (JPM.N) and BlackRock (BLK.N), buying 3.9 million shares and 741,693 shares respectively. A 2021 report by Global SWF found that PIF's Governance, Sustainability, and Resilience (GSR) score had risen by 12% to an overall score of 40% (out of 100%) that year. [1] By April 2022, Kushner's equity firm primarily depended on Saudi money, as it only had $2.5billion under its management. Investors will focus on UK employment data due later in the day, which could cause some volatility in the pound if the report shows that the labor market is not cooling. The Public Investment Fund reduced its holdings in US companies to $7.05 billion by the end of Q3 2020 from $10.1 billion in Q2 2020.The Kingdom's sovereign wealth fund acquired 13 million shares in Canada's NovaGold for $154.6 million, it said in a filing to the US Securities and Exchange Commission (SEC). When completed, an email will be sent to the email address you specify The oil major further noted that this is a private transfer between the state and Sanabil Investments, and Aramco, as a company is not a party to the transfer and has not entered into any agreements. It ended the period with stakes worth between $75 million and $80 million in Warren Buffett's Berkshire Hathaway, Booking.com, IBM, Pfizer, Qualcomm, and Starbucks. The PIF maintained its ownership in Uber, Live Nation, Carnival, Suncor Energy Inc., Automatic Data Processing Inc., and the Utilities Select Sector SPDR Fund. 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 . 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. As part of this process, a new PIF was appointed, chaired by Crown Prince Mohammed bin Salman. [47], On 14 April 2020, it emerged that a deal to transfer ownership of Newcastle United F.C. The (COVID-19 pandemic) interrupted those discussions, so I would very much hope that our colleagues will pick up on this. Saudi sovereign wealth fund PIF held nearly $56 billion worth of U.S.-listed stocks as of December last year, up from $43.4 billion at the end of September, boosted by the increased value of . You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. After years of travel restrictions and quarantines, Chinese people in recent months have finally returned to restaurants and started to move around more freely, giving much-needed stimulus to services. 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. [14] The shares for the second 4% stake in 2023 were valued around $73 billion. If Saudi Arabia wants to use the game of golf as a way for them to get to where they want to be, I think we're proud to help them on that journey. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. 2008-2023 Sovereign Wealth Fund Institute. Box 6847, Riyadh, 11452, Saudi Arabia, Segment percentages and amounts available on swfi.com. The Japanese yen was flat at 134.48 per dollar, while the sterling last traded at $1.2381, up 0.06 percent on the day. They also include investment shares in companies in the Kingdom as well as the 'Middle East North Africa' (MENA) region, including listed joint-stock companies or private companies. and other data for a number of reasons, such as keeping FT Sites reliable and secure, T he Fund also undertakes investments in externally managed fund and non-fund structures which are active across multiple geographies. 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. ? 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. The Public Sector Investment Facility (PIF) is one of Finland's development policy instruments for funding investments in developing countries. [55] The other 19 Premier League clubs condemned the takeover, saying it damaged the Premier League's brand. Whalewisdom has at least 26 13F filings, 17 13G filings, and 5 Form 4 filings. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. Current Assets for PIF is $607,418,895,000 and SWFI has 42 periods of historical assets, 17 subsidiaries, 14 Opportunities/RFPs, 197 personal contacts available for CSV Export. The industry leader for online information for tax, accounting and finance professionals. 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%. SINGAPORE: The dollar slipped on Tuesday after a sharp rise overnight as strong US economic data reinforced expectations that the Federal Reserve will hike interest rates in May, while Chinas economic recovery gathered pace in the first quarter. Riyadh-based Sanabil is an investment company that commits approximately $3 billion a year to private transactions, its website says. Tiger Woods turned down an offer worth nearly $1billion. The fund has also built up a stake of roughly 5% in Tesla (. It will be very difficult for Europe to refill its gas storage to last year's levels after the continent ended the winter heating season with relatively low stockpiles, Russian natural gas giant Gazprom said on Tuesday. PIF has built deep connections with top-tier international investors and partners, asset managers, investment banks, and international brokerage firms to become one of the world's largest investment institutions. 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). All Rights Reserved. Gold prices fell to nearly a two-week low on Monday after data showed manufacturing activity in New York state increased for the first time in five months, and confidence among USsingle-family homebuilders improved for a fourth straight month in April. This will schedule a job to export all requested 13f holdings data for this filer. RIYADH: A 4 percent stake in energy giant Saudi Aramco has been transferred from state ownership to Sanabil Investments, the investment arm of the Kingdoms sovereign wealth fund, said Crown Prince Mohammed bin Salman on Sunday. 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. LIMIT THE USE OF MY SENSITIVE PERSONAL INFORMATION, % of top 20 holdings the same as top 20 most commonly held by all managers. Compare Standard and Premium Digital here. Share Logo of the Public Investment Fund (PIF) Brazil's BRF Co. stated that it signed a memorandum of understanding (MoU) with the Public Investment Fund ( PIF) to establish a joint venture (JV) to produce and sell poultry products in the Kingdom. Stay informed and spot emerging risks and opportunities with independent global reporting, expert Following on the success of its VRP 2018-2020, the . analyse how our Sites are used. [75], PIF has been characterized as among the least transparent sovereign wealth funds in the world. [70] The CEO Greg Norman and star players had to face questions about their association with LIV Golf, despite the Kingdom's abysmal human rights records. The Chinese economy is also beset by a series of other crises, from a debt-laden property sector to flagging consumer confidence, global inflation, the threat of recession elsewhere, and geopolitical tensions with the US. divided by the total MV of the fund. MIS will be responsible for the supply and integration of the audio, visual, digital signage, and smart services solutions . The dollar index, which measures the currency against six major rivals, eased 0.078 percent to 102.01 after rising 0.5 percent overnight. "Consumption saw a recovery during the first quarter partly because of pent-up demand but is not yet back on pre-pandemic levels," Teeuwe Mevissen, an analyst at RaboBank, said. Public Investment Fund Follow Saudi Arabian Investment Company J.S.C.C Follow DUBAI, April 16 (Reuters) - A 4% stake in oil major Saudi Aramco (2222.SE) has been transferred from state. The fund also made a range of smaller bets. On 19 March 2023, UBS confirmed the planned acquisition of Credit Suisse by UBS. See here for a complete list of exchanges and delays. [38] The following month he said the fund would aim to increase the percentage of international assets in its portfolio from 10% to 50% by 2030. He added it will "take time for (a) business confidence recovery, which requires translating the credit expansion into money flow to support real economic activities". [3] According to Steffen Hertog, a professor at the London School of Economics, the PIF "is seen as opaque, a black box. The crown prince revealed that the state remains Aramcos biggest shareholder, owning 90.18 percent stakes in the firm, Saudi Press Agency reported. In October 2022, Yasir Al-Rumayyan (the governor of PIF) gave an interview where he spoke about resisting the ambitious international stock buying activities being promulgated by Mohammad bin Salman at the beginning of 2020 as the world was grappling with COVID-19. US emergency crude oil reserves fall by 1.58m barrels Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Equal-WTWhaleScore 2.0 Our Standards: The Thomson Reuters Trust Principles. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. PIF's giga-projects, designed to create new ecosystems and unlock new sectors, are heavily enabled by and promote technology and knowledge in Saudi Arabia. We will be in touch soon. [3] The wealth fund has been controlled by Crown Prince Mohammed bin Salman, Saudi Arabia's de facto ruler since 2015. The Public Investment Fund (PIF) of Saudi Arabia is one of the largest sovereign wealth funds in the world. The Softbank Vision Fund was created in May 2017 by the Softbank Group and the Public Investment Fund (PIF). The Public Investment Fund (PIF; Arabic: ) is the sovereign wealth fund of Saudi Arabia. email address below and choose 'Submit'. REUTERS/Dado Ruvic/Ilustration. [44], PIF owns a major indirect stake in Twitter, although many Saudis who use the platform for political dissent and activism are arbitrarily arrested and imprisoned. You may change or cancel your subscription or trial at any time online. [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. 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. 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? Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. "As a result, a smooth transition in COVID-19 prevention and control to the new phase was secured in a relatively short time," the report said, adding "the production and demand registered a stable recovery, employment and prices". The state remains Aramco's biggest shareholder, owning 90.18% of the company. 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). [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. The kiwi rose 0.10 percent to $0.619, while the Australian dollar gained 0.22 percent to $0.672. The transfer will solidify PIFs strong financial position and credit rating, the crown prince's statement said of the fund that is responsible for the bulk of projects aimed at transforming the Saudi economy to reduce its reliance on oil revenue. 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