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Kuwait Investment Authority Reports Record-Breaking Financial Year
Bloomberg reports that the Kuwait Investment Authority is set to declare one of its most prosperous financial years yet, driven by robust performances in global markets, resulting in double-digit returns for its sovereign fund.
Insiders suggest that the Authority, with a significant portion of its investments concentrated in the United States, is expecting substantial returns, propelled by the upward trend in American stock prices as reflected in the S&P 500 and Nasdaq 100 indices, as reported by Al-Qabas daily.
The anticipated surge in revenues for the "Al-Ajyal Fund" signifies a rebound compared to previous years, especially considering the consistent returns during that period. Apart from the United States, the Authority maintains substantial investments in the European Union, Britain, Asia, and emerging markets.
It is expected that the projected double-digit returns will elevate the managed assets of the Al-Ajyal Fund to nearly a trillion dollars, narrowing the gap with the Abu Dhabi Investment Authority, the largest sovereign fund in the Gulf region. Globally, the Norwegian sovereign fund leads with assets surpassing $1.6 trillion, followed by the China Investment Corporation.
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