Kuwait Future-generations Fund Become The Third-largest Sovereign Fund In The World

Bloomberg Agency suggested that the General Investment Authority has become the third-largest sovereign wealth fund in the world in terms of assets after the increase in the size of its assets, Al Qabas reported.

The agency had quoted an informed source saying that the value of the future Generations Fund had risen to about $700 billion, and the source revealed that the value of the fund’s assets was estimated at $670 billion at the end of the fiscal year ending on March 31, 2021.

The increase means that the General Investment Authority, which also manages the General Reserve Fund, has accumulated more assets than the Abu Dhabi Investment Authority, whose assets are estimated by the SWF Institute at just over $649 billion.

According to the Sovereign Wealth Fund Institute’s classification, the Norwegian government pension fund is the largest sovereign wealth fund in the world with total assets of $1.3 trillion, followed by the China Investment Corporation, which manages $1 trillion. Kuwait’s gains abroad contrast with its significant financial challenges at home, which have been exacerbated by the dispute between members of the National Assembly and the government.

 

SOURCE : TIMES KUWAIT

Comments Post Comment

Leave a Comment

Submit