October 25, 2017 / 6:33 AM / in 2 months

Saudi fund aiming for AUM of $400 bln by 2020

RIYADH, Oct 25 (Reuters) - Saudi Arabia’s sovereign wealth fund aims to increase its assets under management (AUM) to 1.5 trillion riyals ($400 billion) by 2020, it said in a statement on Wednesday.

The fund, which will receive proceeds from the planned share sale of 5 percent of state oil company Aramco, also aims to increase total shareholder return to 4-5 percent from 3 percent.

$1 = 3.7498 riyals Reporting by Katie Paul; editing by Jason Neely

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