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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches, People

Saudi prince wants world’s largest sovereign wealth fund

Posted on 07 April 2016

In an interview with Bloomberg, Saudi Deputy Crown Prince Mohammed bin Salman said he is planning to transform the kingdom’s Public Investment Fund into a sovereign wealth fund billed as the largest on the planet. It will be a fund so large that the country will eventually rely more on investment income than oil income.
For decades, the world’s largest oil exporter has kept most of its wealth at the Saudi Arabian Monetary Agency, ignoring calls from economists at home and abroad to create a separate sovereign fund. But with the slump in crude prices, the status quo can remain no more………………………………………..Full Article: Source


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