The total value of Public Investment Fund (PIF) assets, encompassing both domestic and foreign holdings within the Saudi financial market, recorded a 37% year-on-year increase, rising by approximately AED 42B ($11.4B) by the close of the third quarter (Q3) of 2024.
This surge elevated the total value to AED 149.6B ($42.6B), compared to AED 109.5B ($31.2B) during the corresponding period in 2023.
On a quarterly basis, the asset value experienced a growth of 10.4%, amounting to an increase of around AED 14.1B ($4B), up from AED 135.4B ($38.6B) at the end of the second quarter (Q2) of this year, as reported in the Capital Market Authority’s quarterly statistical bulletin for 2024.
Saudi Public Investment Fund assets
The number of subscribers to PIF assets saw a 51% year-on-year rise, adding nearly 528,000 new subscribers to reach a total of 1,570,452, compared to 1,042,484 at the same time last year.
This growth was primarily driven by a 42% annual increase in domestic investment assets in Saudi Arabia, which rose by AED 38.6B ($10.5B) to a total of approximately AED 131B ($35.8B), accounting for 84% of the total asset value.
Foreign investment assets also recorded an annual growth of 15.1%, rising by over AED 2.9B ($798.5M) to AED 25.1B ($6.8B), which constitutes 16% of the total asset value.
The number of public investment funds grew by 10% year-on-year, with the addition of 27 new funds, bringing the total to 310 funds.
Equity fund assets followed with a value of AED 34B ($9.3B), accounting for 27.3% of the total, while Saudi real estate investment fund assets ranked third at AED 28.6B ($7.8B), making up 18.3% of the total.
Debt instrument fund assets came fourth, valued at AED 21.8B ($5.9B), contributing 14% to the overall asset value.
