Riyadh – Sharikat Mubasher: Saudi Arabia's Public Investment Fund’s (PIF) assets under management (AUM) surpassed SAR 2.23 trillion ($594.43 billion) in 2022.

The PIF said it generated a total shareholders' return of 8% and established 25 companies in 2022, and locally deployed SAR 120 billion in that year in strategic sectors, the funds said in its annual report for 2022 released on Sunday.

Further, the fund launched a diverse mix of companies last year, such as Saudi Coffee Co. and Halal Products Development Co., creating 1.8 million jobs in 2022.

“2022 was a year when the robust financial foundations established by PIF enabled tangible and rapid progress. As the economy continued to recover from the disruptions of recent years, PIF has been proactive in driving transformational change throughout the Kingdom,” Yasir Al-Rumayyan, PIF Governor, said.