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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.

Nigeria has $2.5 billion in Sovereign Wealth Fund, $33 billion in foreign reserves as of July 2021 and $88 billion in debt as of March 2021. A significant contrast to what fellow oil producers, Kuwait reportedly have in their $700 billion ‘Life-After-Oil” fund. It is interesting to know that this fund is separate from the $41.7 billion dollars in their foreign reserves as of March 2021. According to Bloomberg, Kuwait is making moves to invest its way out of dependency on oil money. It is called the Future Generations Fund, a national savings pot designed to help the country prepare for l...

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 ...

Kuwait’s 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 las...

MINISTER LAMENTS LACK OF COORDINATION ON KEY BILLS KUWAIT CITY, June 30: National Assembly Speaker Marzouq Al-Ghanim adjourned the special session on Wednesday due to the absence of the government as per Article 116 of the Constitution. The government did not attend the session because of the lack of coordination on items in the agenda, while members of the 31 MPs Bloc did not occupy the seats allocated for the ministers. Freedom Al-Saqaabi added Kuwaitis are proud of the freedom they enjoy, while dictatorship is prevalent in many parts of the world. “Do not spoil everything that is good ...