The Public Investment Fund (PIF) (Arabic: صندوق الإستثمارات العامة‎) is the sovereign wealth fund of Saudi Arabia. It is among the largest sovereign wealth funds in the world with total estimated assets of $347 billion. It was founded for the purpose of investing funds on behalf of the Government of Saudi Arabia. Saudi Arabia aims at transferring the PIF from a mere local authority to the largest sovereign fund in the world. Thus, PIF is working on managing assets worth $400 billion by 2020. The PIF has a portfolio made up of approximately 200 investments, of which around 20 are listed on Tadawul, the Saudi Stock Exchange.