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Saudi Wealth Fund Delivered 25% Return Last Year on Global Stock Rally

Saudi Arabian riyal banknotes

Saudi Arabian riyal banknotes

Photographer: Maya Anwar/Bloomberg

Saudi Arabia’s sovereign wealth fund said it delivered a shareholder return of 25% last year as global stocks rallied in the wake of the coronavirus pandemic, in one of the first insights into the finances of one of the world’s biggest state investors.

The Public Investment Fund’s returns more than doubled from an annual average of 12% between 2017 and 2020, according to a prospectus for its debt green bond sale that kicked off Tuesday. Last year’s return for PIF shareholders is roughly in line with that of investors in the S&P 500 Index, which was up 27% over the same period.