Saudi Arabia’s Public Investment Fund (PIF) is the most eye-catching sovereign wealth fund in the world, thanks to bold and contrarian positions in companies such as Carnival and Boeing, acquired in the depths of the Covid crisis.
However, it is light on practical information about its overall performance.
A rare exception came on Friday, when crown prince Mohammed bin Salman gave a speech before the country’s Shura Council. He used the speech to cover a range of information about the economy, and within it was some unexpected detail about the PIF.
According to the Saudi Press Agency, he said: “The Public Investment Fund has become one of the major drivers of growth for the Saudi economy.
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