‎PIF achieves 40% profit from COVID investments, says Al-Rumayyan

‎PIF achieves 40% profit from COVID investments, says Al-Rumayyan

The Public Investment Fund (PIF) achieved profit from the investments of the COVID period by about 40%, for investments amounting to $35 billion, said the fund's Governor Yasser Al-Rumayyan.

In an interview with the "Eight" TV program, the top official explained that a plan was set for investment during that period, which included determining the strategic position, as there are companies that the fund entered at that stage and did not exit from them. This is in addition to seizing opportunities and financial bailout for companies that do not need to buy them from the stock market, but through capital increase.

Several assets have helped raise the fund's returns between 7- 8% currently, including those in the Saudi market, which have risen strongly, in addition to some investments in international markets, Al-Rumayyan stated.

He pointed out that, before 2015 many of the fund's assets were non-performing loans and were directed to development purposes only, and not to areas with investment or commercial feasibility.

He indicated that the investment selection is currently going through many stages before making a decision, stressing that the Crown Prince relies on evidence with opinions, not on absolute opinions that do not depend on evidence, including previous experience and supporting