October 23, 2018 / 7:05 AM / 7 months ago

Saudi sovereign fund targets growth in global assets to 50 percent by 2030

A man holds a 50 riyal ($13.3) note, which shows the Dome of the Rock in Jerusalem old city and Saudi's King Abdullah, in Riyadh July 2, 2007. REUTERS/Ali Jarekji/File Photo

RIYADH (Reuters) - The Public Investment Fund, Saudi Arabia’s sovereign wealth fund, has almost 10 percent of its assets held internationally and has a target to raise that to 50 percent by 2030, Yasir al-Rumayyan, who heads the PIF, told an investment conference in Riyadh.

“In 2030 we would like to be 50 percent international and 50 percent domestic,” he said.

Reporting By Andrew Torchia, Stephen Kalin; Writing by Tom Arnold; Editing by Saeed Azhar

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