Bloomberg reported yesterday that the Saudi Government Wealth Investment Fund has selected one of the prominent leaders responsible for helping promote rural development to oversee the Public Investment Fund’s investment strategy.
Jerry Todd has been appointed head of investment strategy for the fund, which has assets estimated at about $1 trillion, Bloomberg reported, citing sources familiar with the matter.
Reuters indicated in a February 9 report that the sovereign fund intends to announce a five-year investment strategy.
He added that the new strategy focuses on the industrial, mineral, artificial intelligence and tourism sectors.
Attracting foreign investors and nationals is one of the Saudi Government Wealth Investment Fund’s most important priorities. This will inject more sufficient funds to meet the needs of strategic national projects, and there is great hope to advance national economic restructuring plans on that basis, allowing the non-oil economy to compensate for the absence of the oil system even if oil prices fall.
Bloomberg reported the day before yesterday that Saudi Arabia’s sovereign wealth fund has selected a prominent leader tasked with promoting regional development to oversee the Public Investment Fund’s investment strategy.
Jerry Todd has been named head of investment strategy for the fund, which is estimated to have assets worth about $1 trillion, Bloomberg reported, citing sources.
Reuters said in a February 9 report that the sovereign fund was set to announce a five-year investment strategy.
It added that the new strategy focuses on the sectors of industry, minerals, artificial intelligence and tourism.
Attracting foreign and local investors is one of the Saudi sovereign wealth fund’s top priorities. This will result in a more adequate injection of funds to meet the needs of strategic national projects. This has given rise to high hopes of moving forward with national economic restructuring plans so that the non-oil economy can compensate for the lack of an oil system if oil prices fall.
