{"id":219404,"date":"2022-02-16T12:00:00","date_gmt":"2022-02-16T12:00:00","guid":{"rendered":"https:\/\/www.bnreport.com\/?p=219404"},"modified":"2022-02-16T08:44:53","modified_gmt":"2022-02-16T08:44:53","slug":"public-investment-fund","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/public-investment-fund\/","title":{"rendered":"Saudi Public Investment Fund continues acquiring US-listed stocks"},"content":{"rendered":"<p style=\"text-align: justify\"><strong>Riyadh, (Business News Report)|| <\/strong>The Saudi Public Investment Fund (PIF) continues to acquire more US listed shares, according to a regulatory disclosure in the United States.<\/p>\n<p style=\"text-align: justify\">The disclosure said that the PIF had acquired shares listed in the United States, with a value of about $56 billion, as of December last year.<\/p>\n<p style=\"text-align: justify\">Shares rose from $43.4 billion at the end of September, boosted by an increase in the value of electric car maker Lucid.<\/p>\n<p style=\"text-align: justify\">The disclosure showed that the value of the fund&#8217;s holdings in Lucid in December amounted to $38.6 billion, up from $25.8 billion at the end of September.<\/p>\n<p style=\"text-align: justify\">Lucid&#8217;s listing in July last year was a huge boost to Saudi Arabia&#8217;s sovereign wealth fund.<\/p>\n<p style=\"text-align: justify\">The Public Investment Fund, which currently owns a stake in Lucid approaching 62%, invested more than $1 billion in the company in 2018 in exchange for a large stake and increased its investments in February 2021.<\/p>\n<p style=\"text-align: justify\">Lucid&#8217;s shares are down 28% since the beginning of the year.<\/p>\n<p style=\"text-align: justify\">The PIF also owns a 3.75% stake in Uber Technologies for passenger transportation services.<\/p>\n<p style=\"text-align: justify\">The fund sharply reduced its stake in <a href=\"https:\/\/www.google.com\/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=&amp;cad=rja&amp;uact=8&amp;ved=2ahUKEwjKz8b844P2AhXd8bsIHedKBmkQFnoECAMQAQ&amp;url=https%3A%2F%2Fwww.prologis.com%2F&amp;usg=AOvVaw2m0ljwW9EGTYwHjs2M8mz4\">Prologis<\/a>, while significantly increasing its stake in Farfetch, a technology platform in the fashion industry, to 3.3 million Class A shares.<\/p>\n<p style=\"text-align: justify\">He also raised his stake in Pinterest.<\/p>\n<h3>Vision 2030<\/h3>\n<p style=\"text-align: justify\">The PIF, which manages about $480 billion in assets, is at the center of the Kingdom&#8217;s Vision 2030, a national strategy aimed at diversifying the kingdom&#8217;s economy and reducing dependence on hydrocarbons.<\/p>\n<p style=\"text-align: justify\">The Saudi government said last Sunday that Crown Prince Mohammed bin Salman had transferred 4% of Saudi Aramco&#8217;s shares (worth $80 billion) to the kingdom&#8217;s sovereign wealth fund, making it the sixth largest sovereign fund in the world.<\/p>\n<p style=\"text-align: justify\">The Saudi Press Agency (SPA) quoted the bin Salman, as saying that &#8220;the transfer of these shares is part of the kingdom&#8217;s long-term strategy aimed at supporting the restructuring of the national economy.&#8221;<\/p>\n<p style=\"text-align: justify\">Bin Salman stressed that the transfer of Aramco shares will contribute to supporting the fund&#8217;s plans to raise the volume of its assets under management to about 4 trillion riyals ($1.7 trillion) by the end of 2025.<\/p>\n<p style=\"text-align: justify\">The shares of Saudi Aramco transferred to the Public Investment Fund will contribute to strengthening its position and high credit rating in the medium term.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Riyadh, (Business News Report)|| The Saudi Public Investment Fund (PIF) continues to acquire more US listed shares, according to a regulatory disclosure in the United States. The disclosure said that the PIF had acquired shares listed in the United States, with a value of about $56 billion, as of December last year. Shares rose from [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":219405,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[278,7266,7592,576],"class_list":["post-219404","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-featured","tag-pif","tag-public-investment-fund","tag-saudi-arabia"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Saudi Public Investment Fund continues acquiring US-listed stocks<\/title>\n<meta name=\"description\" content=\"BNReport| The Saudi Public Investment Fund (PIF) continues to acquire more US listed shares, according to a regulatory disclosure.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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