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PIF Has Already Recovered Q4 Losses in US Listed Equities

15th February, 2023

The slump in the value of electric carmaker Lucid caused a 16% q-o-q fall in the value of the Public Investment Fund’s (PIF) US equity portfolio to US$30.9 billion, but Global SWF’s estimates indicate a rapid turn in fortunes in the past six weeks with the reversal of Q4 losses.

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Lucid Clouds PIF's 2022 Performance, But There Is A Silver Lining

29th December, 2022

The final quarter of 2022 was hugely disappointing for PIF’s US public equity holdings with the diving value of Lucid Motor’s stock wiping US$7.4 billion off the value of the stockholding, representing 1.2% of the Saudi sovereign fund’s AUM.

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PIF: Lucid Undermines Index-Beating Performance in US Equities

25th November, 2022

Saudi Arabia’s Public Investment Fund saw US$6.6 billion wiped off the value of its US public equity portfolio in Q3, around three quarters of which was caused by the 18.6% decline in the value of its stake in Lucid which was worth US$14.2 billion at end-September.

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QIA Considers Throwing a Lifeline to Troubled Credit Suisse

4th November, 2022

The Qatar Investment Authority (QIA) is undeterred by the plummeting value of its stockholding in Credit Suisse Group and is preparing to invest in a share sale alongside the Saudi National Bank, according to the Financial Times.

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Oil Revenue Liquidity Boost for GCC Stock Markets Lifts Gulf Funds

6th October, 2022

While global stock markets are in the doldrums, the energy price hike has fuelled growth in the oil-backed economies in the Arabian Gulf – with sovereign wealth funds receiving a boost in performance.

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Egypt’s SWF Prepares IPOs with Arab Gulf Backing

8th September, 2022

A new sub-fund is being established by The Sovereign Fund of Egypt (TSFE) to pool assets for public listing, attracting the interest of Gulf region’s sovereign wealth funds

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PIF Remains Loyal to Lucid Motors, Despite US$8.4bn Loss; Pivots to Tech and Finance

16th August, 2022

A fall in Lucid Motors’ stock price caused a US$8.4 billion hit on Saudi Arabia’s Public Investment Fund’s US public equity holdings – but the rest of its stock holdings grew US$4.6 billion with tech stocks leading the charge.

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Sovereign Investors Make a Tactical Movement on Chinese Stocks

15th June, 2022

Latest data gathered by Global SWF shows that most state-owned investors (SOIs) pivoted away from China in their public equity strategies.

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Equities - Temasek Under-Performs; PIF Suffers Lucid Losses

16th May, 2022

Filings by Saudi Arabia’s Public Investment Fund (PIF) and Singapore’s state-owned holding company Temasek show they were hit by the shock to markets in the first quarter as the Russian intervention in Ukraine sent the global economy reeling.

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Qatar's SWF Supports Elon Musk's Twitter Take-Over

5th May, 2022

Elon Musk’s takeover of Twitter has won the support of the US$445 billion Qatar Investment Authority (QIA), which has contributed US$375 million to his buyout.

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Sovereign Investors assess their Russian portfolios and options

2nd March, 2022

Sovereign Investors have different degrees of exposure to Russia and to the Commonwealth of Independent States (CIS). On the one hand, Middle Eastern funds have been increasing their allocation into the region for the past few years, and Asian countries continue to be some of Russia’s most important trading partners. On the other hand, European and, especially, North American, pensions had already been divesting positions due to geopolitical risk.

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State Investors Diverge on US Public Equity Allocations

15th February, 2022

Stock exchange filings by state-owned investors, published this week, saw a divergence in strategy and positions in Q4 2021, with leaps in some portfolios slightly offset by downward adjustments in others.

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