Riyadh: The Saudi Public Investment Fund (PIF) achieved a 19% year-on-year growth in its assets under management (AUM) in 2024, reaching SR 3.42 trillion (approximately $913 billion).

According to Qatar News Agency, the fund explained in its annual report, carried by the Saudi Press Agency (SPA) Wednesday, that it has achieved a 7.2% total shareholder return year-on-year since 2017, with total revenues increasing by 25%.

The previous year saw SR 213 billion allocated to priority sectors, bringing the fund's total investments in these sectors since 2021 to more than SR 642 billion. The PIF's contribution to non-oil GDP increased to 10%, reaching SR 910 billion cumulatively from 2021 to 2024.

The fund's portfolio of companies reached 225 by the end of 2024, including 103 companies established by the fund. On the international front, the Public Investment Fund's international investment portfolio continued to expand during 2024, supported by impactful, long-term investments, aiming to achieve sustainable returns and build partnerships in key markets around the world.

The Saudi Public Investment Fund continued to diversify its funding sources during the previous year, with total public loans reaching approximately SR 36.855 billion (approximately $9.828 billion), in addition to private loans amounting to approximately SR 26 billion (approximately $7 billion).