Saudi Public Investment Fund emerges as most valuable and second-strongest sovereign wealth fund globally

• Asset Management and Sovereign Wealth Funds 2024 report released

RIYADH: Saudi Arabia’s Public Investment Fund has topped the list of the most valuable brands among global sovereign wealth funds, according to a report by UK-based brand valuation and strategy consultancy Brand Finance.

The list includes 50 of the largest asset management companies and sovereign wealth funds in the world.

The inaugural Asset Management and Sovereign Wealth Funds 2024 report, which was released on Wednesday, was based on a survey of more than 4,400 entities around the world, including companies, individuals and media from the investment and financial sectors.

The Brand Finance report estimated the value of the PIF’s brand at $1.1 billion (more than SR4.1 billion), making it the highest among the regional and international sovereign funds included in the list.

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It said the PIF emerged as the world’s second-strongest SWF brand in terms of brand strength, with a score index of 62.1 out of 100, and is “one of only three SWF brands to earn an A+ brand strength rating.”

The report added that the PIF had ambitious growth prospects in light of its targets for the year 2030, which contributed to enhancing the value of its brand, especially as it distinguished itself among other sovereign funds in its focus on investing in the local economy, unlocking the capabilities of new sectors and creating job opportunities, the Saudi Press Agency reported.

“Through this unique approach to ranking asset managers and SWF funds, Brand Finance has revealed a novel and useful new insight: actively managed asset managers tend to have higher brand value to AUM (assets under management) rations,” the report said.

“As the most active SWF by a large margin, PIF epitomizes this trend with a brand value to AUM ratio that is almost double that of its nearest SWF competitor,” it added.

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The report stated that the advanced position of the fund’s brand was due to its influential economic activity and investment performance.

Those surveyed expressed a positive outlook toward the PIF’s innovative strategy and its role as a catalyst for promoting growth and development.

The report added: “Looking ahead, PIF has ambitious growth prospects, aiming to reach USD2 trillion in AUM by 2030. This ambition has also turbocharged PIF’s brand value and brand strength as it has adopted bold investment strategies that contract other SWF brands.

“PIF is also the 15th most valuable brand in a combined ranking of both asset managers and SWFs, a reflection of how PIF leadership envisions the fund as an asset manager, SWF, and a national development entity.”

The value of assets under management at the PIF has reached more than $930 billion, and the fund works to develop strategic sectors and opportunities that will contribute to shaping the future of the global economy, the SPA reported.

The fund is an active investor and a major driver of economic transformation in the Kingdom, and since 2017 it has launched 94 new companies and contributed to creating more than 644,000 job opportunities at the local level, the SPA added.

Brand Finance has been working for more than 25 years to evaluate the strength of brands and determine their financial value, and publishes more than 100 reports classifying brands in all sectors and countries.