每日新闻更新- 沙特阿美,SECO,PIF The Daily Update - Saudi Aramco, SECO, PIF

沙特阿美公共投资基金(PIF)将成为全球最大的主权财富基金,价值接近2万亿美元,远高于目前全球最大的主权财务基金、价值8500万亿美元的挪威全球养老基金。

目前PIF价值约1300亿美元,以沙特国内投资为主,创建于1971年,现有计划将沙特阿美的所有权转移至PIF,根据有关分析这将使其价格增加到2万亿美元。这是沙特政府的“2030愿景”之一,该愿景旨在改变依赖石油的单一收入模式,实现经济多元化。

PIF的这一计划交易正在加速,该基金对国外的投资比重将从目前的5%增加到大约50%。预期明年沙特阿美首次公开募股将筹集大约1060亿美元,这将是有史以来最多的筹资,将占沙特阿美价值的5%。这将成为PIF首批投资资金,因为其目前的投资组合很缺乏流动性。

王储穆罕默德是“2030愿景”的主要推动者,他解释说,“沙特阿美的所有权转至PIF可让政府通过投资而不是石油获得更多收入,通过这一改革,PIF将成为全球最大的主权基金”。该基金的工作人员数量已经增长了一倍,最近聘用了卡塔尔投资局房地产部前部长担任首席发展官,Riyad Banks银行前投资部部长担任国内投资主任。

我们最青睐的沙特阿拉伯的两支债券来自国有沙特电力,一支是2043年4月到期票息为5.06%,另一支是2044年4月到期票息为5.5%。两支债券收益都在大于4.8%,价差大约在200点以上,如果回归至“公允价值”的话,就相当于21%的回报率和收益率。两支债券的评级均为A2,交易价格大约比信用等级低4档。即使因为地区投资的地缘政治等因素将其评级下调2档,在我们多元化投资组合中,这两支债券也很有吸引力。

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