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1.91 MB
Extraction Summary
1
People
7
Organizations
6
Locations
2
Events
1
Relationships
4
Quotes
Document Information
Type:
Financial research report
File Size:
1.91 MB
Summary
This document is a page from a Merrill Lynch financial research report (GEMs Paper #26) dated June 30, 2016. It analyzes the restructuring of Saudi Arabia's Public Investment Fund (PIF), citing Deputy Crown Prince Mohammed bin Salman's plans to transfer Saudi Aramco ownership to the fund to diversify foreign assets and reduce oil dependence. The report compares Saudi Arabia's sovereign wealth strategy to models in Abu Dhabi, Kuwait, and Norway.
People (1)
| Name | Role | Context |
|---|---|---|
| Mohammed bin Salman | Deputy Crown Prince |
Cited regarding the transfer of Saudi Aramco ownership to the PIF and the valuation of the fund post-IPO.
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Organizations (7)
| Name | Type | Context |
|---|---|---|
| Merrill Lynch |
Author of the report (BofA Merrill Lynch Global Research).
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| Public Investment Fund (PIF) |
Subject of the report; Saudi sovereign wealth fund being restructured.
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| Saudi Aramco |
State oil company whose ownership is being transferred to PIF; upcoming IPO discussed.
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| SAMA |
Saudi Arabian Monetary Authority; central bank whose assets and reserves are discussed in relation to PIF.
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| IMF |
Source of data for charts.
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| Haver |
Source of data for charts.
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| Saudi Ministry of Finance |
Source of data for charts.
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Timeline (2 events)
2016-06-30
Future (from 2016 perspective)
Saudi Aramco IPO and transfer of ownership to PIF.
Saudi Arabia
Locations (6)
| Location | Context |
|---|---|
|
Primary country of focus.
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Cited as an economic model for sovereign wealth fund structure.
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Cited as a peer comparison for budget contributions.
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Cited as a peer comparison for budget contributions.
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Cited as a peer comparison for budget contributions.
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Cited as a potential model for fiscal policy.
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Relationships (1)
Mohammed bin Salman is cited as the authority detailing the restructuring plans for the PIF.
Key Quotes (4)
"According to Deputy Crown Prince Mohammed bin Salman, government ownership of Saudi Aramco would be transferred to the PIF"Source
HOUSE_OVERSIGHT_016117.jpg
Quote #1
"The PIF would hold on-paper a vast amount of wealth post-IPO (US$2trn, according to the Deputy Crown Prince...)"Source
HOUSE_OVERSIGHT_016117.jpg
Quote #2
"Transitioning to an Abu Dhabi model"Source
HOUSE_OVERSIGHT_016117.jpg
Quote #3
"Over time, Saudi Arabia could decide to emulate the Norway model, which would entail a more prudent use and conduct of fiscal policy, in our view."Source
HOUSE_OVERSIGHT_016117.jpg
Quote #4
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