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MPs blame mismanagement by govt for record budget deficit

MPs blame mismanagement by govt for record budget deficit
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World s oldest wealth fund swells to record US$700bil

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

World’s oldest wealth fund swells to record and cracks the top 3 0 Comments Get daily business news from the region delivered straight to your inbox I agree to the terms and conditions SIGN UP 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.

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