RIYADH: Saudi Arabia’s Public Investment Fund moved up in the global ranking to become the 6th biggest sovereign wealth fund with $580 billion in assets under management.
It witnessed the boost following the transfer of a 4 percent stake of Saudi Aramco, Forbes reported citing data released by the Sovereign Wealth Funds Institute, or SWFI.
According to the Forbes report, the Kingdom’s sovereign wealth fund earlier ranked 8th worldwide, with $480 billion in assets under management.
Global rating agency Moody’s has given the PIF the fifth-highest credit rating, while Fitch Ratings gave the fund a rating of A with a stable outlook.
Moody’s described the share transfer of Saudi Aramco to the PIF as credit positive as it increased the fund’s assets under management.
The transaction will also improve the fund’s sector diversification, and will add an asset that regularly pays dividends to its portfolio, Moody’s said.
The Norwegian State Pension Fund topped the list with $1.4 trillion in assets followed by the China Investment Corp. with assets worth $1.22 trillion.
The Kuwait Investment Authority was ranked third with $737.9 billion, followed by the Abu Dhabi Investment Authority with $698 billion and then Hong Kong Monetary Authority Fund in the 5th position.
Aramco deal pushes Saudi Arabia’s PIF up in global ranking: SWFI
https://arab.news/zkmnp
Aramco deal pushes Saudi Arabia’s PIF up in global ranking: SWFI
Closing Bell: Saudi stocks slip as Tadawul falls 1% amid broad market weakness
RIYADH: Saudi stocks fell sharply on Tuesday, with the Tadawul All Share Index closing down 108.14 points, or 1.03 percent, at 10,381.51.
The broader decline was reflected across major indices. The MSCI Tadawul 30 Index slipped 0.78 percent to 1,378.00, while Nomu, the parallel market index, fell 1 percent to 23,040.79.
Market breadth was strongly negative on the main board, with 237 stocks falling compared to just 24 gainers. Trading activity remained robust, with 164.7 million shares changing hands and a total traded value of SR3.19 billion ($850.6 million).
Among the gainers, SEDCO Capital REIT Fund led, rising 2.73 percent to SR6.77, followed by Chubb Arabia Cooperative Insurance Co., which gained 2.69 percent to SR20.20.
National Medical Care Co. added 1.72 percent to close at SR141.60, while Alyamamah Steel Industries Co. and Thimar Advertising, Public Relations and Marketing Co. advanced 1.57 percent and 1.13 percent, respectively.
Losses were led by Al Masar Al Shamil Education Co., which tumbled 8.36 percent to SR24.65. Raoom Trading Co.fell 6.75 percent to SR64.20, while Alkhaleej Training and Education Co. dropped 6.60 percent to SR18.12 and Naqi Water Co. declined 5.51 percent to SR54.00. Gulf General Cooperative Insurance Co. closed 5.44 percent lower at SR3.65.
On the announcement front, Chubb Arabia Cooperative Insurance Co. signed a multiyear insurance agreement with Saudi Electricity Co. to provide various coverages, expected to positively impact its financial results over the 2025–2026 period. The deal will run for three years and two months and is within the company’s normal course of business.
Meanwhile, Bupa Arabia for Cooperative Insurance Co. announced a one-year health insurance contract with Saudi National Bank, valued at SR330.2 million, covering the bank’s employees and their families from January 2026. Despite the sizable contract, Bupa Arabia shares fell 0.8 percent to close at SR137, weighed down by the broader market weakness.
In contrast, United Cooperative Assurance Co. revealed an extension of its engineering insurance agreement with Saudi Binladin Group for the Grand Mosque expansion in Makkah. The contract value exceeds 20 percent of the company’s gross written premiums based on its latest audited financials and is expected to support results through 2026. However, the stock came under selling pressure, ending the session down 4.51 percent at SR3.39.
