Kuwait Sovereign Wealth Fund nears $1 trillion mark
Views: 410Published on: 25-Jul-2024
KUWAIT: The Kuwait Investment Authority has seen a significant increase in the assets of its sovereign wealth fund, nearing the $1 trillion mark. According to data published yesterday by the Sovereign Wealth Fund Institute (SWFI), the fund’s assets rose by approximately $56.55 billion since March 2024, and by about $177 billion over the past year.
As of now, the Authority’s assets stand at around $980 billion, up from $923.45 billion in March 2024. This marks a substantial increase from July 2023, when the assets were valued at $803 billion.
The Sovereign Fund has maintained its position as the fifth-largest sovereign wealth fund globally. It is followed by the Saudi Public Investment Fund in sixth place, the Qatar Investment Authority in eighth, and the UAE’s Mubadala Fund in twelfth.
The top five rankings of sovereign wealth funds remained unchanged. The Norwegian Government Pension Fund continues to lead with $1.63 trillion in assets, followed by the China Investment Corporation with $1.35 trillion. China’s State Administration of Foreign Exchange holds the third spot with $1.09 trillion, while the Abu Dhabi Investment Authority is fourth with $993 billion in assets.
The Public Investment Authority has consistently been a major global investor, holding stakes in large companies and demonstrating a commitment to new sectors such as semiconductors and artificial intelligence.
This growth highlights the fund’s robust investment strategy and its ongoing role in the global financial landscape.