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ABU DHABI: Kuwait Investment Authority (KIA) likely broke into the world’s top three sovereign wealth funds by assets.
The Future Generations Fund, managed by the authority known as KIA, has risen to a record of about US$700bil (RM2.91trillion), according to a source.
Its assets were valued at around US$670bil (RM2.789 trillion) at the close of the last fiscal year on March 31, the source said.
The fund, a national savings pot designed to help the country prepare for life after oil, has more than half of its investments in the United States, where equity markets have been on a tear.
World’s oldest wealth fund swells to record and cracks the top 3
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The Future Generations Fund, managed by Kuwait Investment Authority, has risen to a record of about $700bn
July 4, 2021
Kuwait Investment Authority likely broke into the world’s top three sovereign wealth funds by assets.
The Future Generations Fund, managed by the authority known as KIA, has risen to a record of about $700bn, according to a person with knowledge of the matter. Its assets were valued at around $670bn at the close of the last fiscal year on March 31, the person said, asking not to be named discussing confidential information.
Kuwaitâs Life-After-Oil Fund Swells to a Record $700 Billion
Jul 02 2021, 7:54 PM
July 02 2021, 5:57 PM
July 02 2021, 7:54 PM
(Bloomberg) Kuwait is making strides in an effort to invest its way out of dependency on oil money.
(Bloomberg) Kuwait is making strides in an effort to invest its way out of dependency on oil money.
The Future Generations Fund, a national savings pot designed to help the country prepare for life after oil, has risen to about $700 billion, according to a person with knowledge of the matter. Its assets were valued at about $670 billion at the close of the last fiscal year on March 31, the person said, asking not to be named discussing confidential information.
World s oldest wealth fund swells to record $700 bn and cracks the top 3 business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.