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Saudi PIF annualised total shareholder returns fall to 5.8% as some assets lose value

DUBAI: Saudi Arabia's sovereign wealth fund, the Public Investment Fund, reported an annualised total shareholder return of 5.8% in its 2025 annual report published on Monday, down from 7.2% reported at the end of 2024.

* Total shareholder return last year was impacted by a decrease in the valuations of some assets, "as a result of wider market conditions, and as PIF continued to make long-term local investments to drive economic transformation," the fund said in a separate statement.

* The return was also "positively driven" by higher dividends from portfolio companies and returns from financial investments, it said.

* PIF's annualised total shareholder return since the inception of the Vision Realization Program in September 2017 stood at 5.8%.

* PIF is the vehicle spearheading the kingdom's economic agenda to cut reliance on hydrocarbon revenues.

* Under the Vision 2030 economic transformation plan, it has been investing in sectors including logistics, tourism, mining and technology.

* Revenue rose 9% to $120 billion in 2025 while net profit more than doubled to $17 billion.

* Gross assets under management (AUM) totalled 3.396 trillion riyals ($904.54 billion) in 2025 compared to 3.434 trillion riyals the previous year.

* Local investments represented 76% of total AUM last year, while international investments and treasury accounted for the remaining 20% and 4% respectively.

* PIF recently shifted strategy, moving away from some investments, including scaling back so-called infrastructure giga-projects in the kingdom.

($1 = 3.7544 riyals) (Reporting by Federico Maccioni, Writing by Eman Abouhassira; Editing by Toby Chopra, Susan Fenton and Cynthia Osterman)