Saudi Arabia’s $1 Trillion PIF to Set New Investment Roadmap (1)

Saudi Arabia’s $1 trillion sovereign wealth fund plans to unveil a new long-term strategy as it looks to boost investment returns, bolster the local economy and drive the kingdom’s push to diversify away from oil.

“In the coming two months or so, we will set the new strategy for the PIF, which is a continuation from the original one, until 2030 and from 2030 all the way to 2040 and beyond,” Public Investment Fund Governor Yasir Al-Rumayyan said during an interview with David Rubenstein at the Economic Club of Washington D.C. on Monday.

He didn’t offer details but said the ...