Kuwait wealth fund assets grew over 34 pct in 5 years-finmin

27/09/2017 09:45 AST

Assets managed by Kuwait Investment Authority (KIA), one of the world’s biggest sovereign wealth funds, have grown more than 34 percent over the past five years, Finance Minister Anas al-Saleh said.

Speaking at a Euromoney conference, Saleh described the state’s reserves and assets, managed by the KIA, as representing a “safety valve” for the economy during times of crisis as well as a nest egg that would provide for future generations.

“The growth in assets achieved by the (Kuwait Investment) Authority over the past five years is more than 34 percent,” he said. He did not disclose the size of the assets.

The Sovereign Wealth Fund Institute ranks KIA as the world’s fourth-biggest sovereign fund, managing $524 billion.

A KIA statement carried out by the country’s state news agency earlier this year implied the fund had assets of about $515 billion as of March 2016.

Among KIA’s high-profile investments, it owns 6.8 percent of German automaker Daimler AG and stakes in major Kuwait-based firms such as 18.4 percent of Kuwait Finance House , according to Thomson Reuters data.


Reuters

Most Viewed Companies

Ticker Price Volume
UPAC 640.00 62,010
ENERGYH 28.20 28,600
YANSAB 72.30 188,321
ALMARAI 53.60 384,671
SACO 76.70 75,425

Recent News

Deposits in banking sector crosses 23 billion

20/06/2020

The total deposits with the banking sector reached more than 23 billion by the end of April.

A statement issued online by Oman News Agency (ONA), said:"Central Bank of Oman (CBO), indicate

Times of Oman

Property market price index buoyant as restrictions ease: Ezdan report

20/06/2020

Qatar’s real estate market activity has seen a rebound performance that surged to record levels, backed by a significant number of property sale deals executed during the past week, as well as the nu

The Peninsula

Commercial abalone farming set for strong growth in Oman

20/06/2020

The abalone fishing industry in southern Oman – an important source of livelihood for traditional fishing communities distributed along the coast of Dhofar Governorate – is set for a big boost with a

Oman Daily Observer

Strategy to boost Oman’s air cargo throughput to 700,000 tons by 2030

20/06/2020

An array of Omani agencies spanning the aviation, shipping, logistics, customs and regulatory sectors are working in concert to achieving a trebling of the Sultanate’s airfreight volumes to around 70

Oman Daily Observer

UAE and US reaffirm desire to expand economic opportunities

20/06/2020

The United Arab Emirates and the United States held their seventh Economic Policy Dialogue via videoconference on June 18. The dialogue was co-chaired by the UAE Ministry of Foreign Affairs and Inter

The Gulf Today

logo

Market Information Trading Co.

(MITCO), P.O. Box 15570, Jeddah 21454, Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2017, Market Information Trading Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap