All Asset Owners. It currently has $592 billion of assets under management. Contact Us Public Investment Fund, Saudi Arabia – $320 billion. Three leading GCC SWFs, Kuwait Investment Authority (KIA, whose foreign assets under management (AUM) is estimated at more than $560 billion in … However, not all ventures have proven to be as profitable. In the latest 2015 ranking, Norway’s Government Pension Fund–Global with assets for $824.9 billion, ranks first, followed by the Abu Dhabi Investment Authority … Governance Asset Owner 100’s wealth of influence. The oldest SWF is the Kuwait Investment Authority, founded in 1954, and funded with oil revenues. Sheikh Meshaal Jaber Al Sabah, Director-General, Kuwait Direct Investment Promotion Agency (KDIPA) : Interview, Trade & Investment, from The Report: Kuwait 2018, Kuwait's account balance returns to a surplus as oil price recovers and diversification strategies implemented, Previous article from this chapter and report. Kuwait Investment Authority (KIA) is a Sovereign Wealth Fund located in Kuwait City Kuwait, Middle East, and was founded in 1953. The SWF assets of these countries are likely to even increase in 2020 due to supportive market returns, despite governments using SWFs’ […] “Through my experience at AUM, I learned self-confidence, discipline, teamwork and how to set my life and career goals. In 2018 it had a 6.8% share in Daimler, and in 2008, during the global financial crisis, it invested $2.39bn in Citigroup and $984m in Merrill Lynch. While some high-profile moves are published by the media, the KIA has remained opaque about its performance, leaving ratings agencies to draw their own conclusions about the scale of its AUM. The Abu Dhabi Investment Authority (ADIA) is a sovereign wealth fund owned by the Emirate of Abu Dhabi (in the United Arab Emirates) founded for the purpose of investing funds on behalf of the Government of the Emirate of Abu Dhabi.It manages the Emirate's excess oil reserves, estimated to be as much as $875 billion. The KIA authorities say that the Council of Ministers is informed at least once per year about its assets, but this leaves local media to interpret sometimes contradictory hints about the KIA’s performance from government officials. Established in 1953, the Kuwait Investment Authority is one of the oldest sovereign wealth funds in the world. KIA traces its roots to the Kuwait Investment Board, which was established in 1953, eight years before Kuwait’s independence. In September 2017 local media reported a speech given by Anas Al Saleh, the then-minister of finance, saying the KIA’s AUM had grown by more than 34% over five years, although no further figures were given. It acquired St Martin’s Property Group in 1974, which has since invested in a number of landmark schemes in London’s City and Canary Wharf, as well as in other countries, such as Turkey, Australia and Japan. 47 established the KIA to administer the GRF and FGF, with its headquarters located in Kuwait City. The SWF Institute (SWFI), which makes international comparisons, estimated the KIA’s assets were $592bn in mid-2018, up from $524bn earlier in the year. Kuwait Investment Authority Kuwait Investment Authority; Libyan Investment Authority Libyan Investment Authority; Mongolia Fiscal Stability Fund (New) Mongolia Fiscal Stability Fund ... JavaScript chart by amCharts 3.10.0C Assets Under Management . In 1982 the government issued Law No. “AUM has instilled in me a lot of self-confidence and helped me discover and develop my personal abilities. The KIA said the loss was the equivalent of 0.2% of its total assets, which would suggest a total of $515bn AUM. Current Assets for KIA is $533,650,000,000 and SWFI has 343 periods of historical assets, 9 subsidiaries, 781 transactions, 20 Opportunities/RFPs, 145 … “As a university, AUM is distinguished by its ability to teach you how to set your priorities both in life and at work, and to guide you in your chosen career to showcase your strengths, succeed in your professional life and benefit your country and community”. Stay updated on how some of the world’s most promising markets are being affected by the Covid-19 pandemic, and what actions governments and private businesses are taking to mitigate challenges and ensure their long-term growth story continues. The Kuwait Investment Authority (KIA) is the oldest sovereign wealth fund in the world. Its roots trace back to the formation of the Kuwait Investment Board (KIB) by Sheikh Abdullah Al Salem Al Sabah in London in 1953, eight years before the country achieved its independence. According to a June 2019 ranking published by the Sovereign Wealth Fund Institute (SWFI), the largest fund in the GCC is the Abu Dhabi Investment Authority (ADIA). The Kuwait government had set it up soon after the discovery of massive oil reserves to manage the state’s surplus oil revenues. It is the 5th largest sovereign wealth fund … It has primarily focused on investing in public and private markets, the China Interbank Bond Market and real estate. The Kuwait Investment Authority (KIA) was then established in 1982 as KIO’s parent organization. Assets Under Management (AUM) $592000. The KIA is reportedly the oldest SWF in the world. Register now and also receive a complimentary 2-month licence to the OBG Research Terminal. Find our research on the Bloomberg Terminal, Dow Jones Factiva, Eikon, S&P Capital IQ, LexisNexis and more. Choose from the options below to purchase print or digital editions of our Reports. Its portfolio grows at an annual rate of about 10% compounded. The fund bought a … In 1982 Law No. China Investment Corporation—China. The Kuwait Investment Authority (KIA) is Kuwait's sovereign wealth fund, managing body, specializing in local and foreign investment.It is the 5th largest sovereign wealth fund in the world with assets exceeding $592 billion. The Kuwait Investment Authority (KIA) is Kuwait's sovereign wealth fund, managing body, specializing in local and foreign investment. In 1965 the KIB was rebranded as the Kuwait Investment Office (KIO), and in 1976 a law was passed to create the Future Generations Fund (FGF) by transferring 50% of the funds accrued to date to a new account with 10% of general government revenue to be transferred to the FGF each year beginning in FY 1976/77, as well as 10% of the net income from the General Reserve Fund (GRF). Kuwait’s General Investment Authority (KIA), which manages Kuwait’s sovereign wealth fund, appointed Saleh al-Ateeqi as chief executive of the Kuwait Investment Office in London, which manages about $ 150 billion in investments and assets. The KIB’s mandate was to use surplus oil revenue to invest in financial assets that would promote sustainable domestic development. Prominent among them are Abu Dhabi Investment Authority (ADIA), Kuwait Investment Authority (KIA), Public Investment Fund (PIF) of Saudi Arabia and Qatar Investment Authority (QIA). The FGF serves as a nest egg for the citizens of Kuwait and their descendants. It is a member of the International Forum of Sovereign Wealth Funds and has signed up to the Santiago Principles on best practice in managing sovereign wealth funds. While, according to the SWFI, any SWF wishing to claim its dealings are transparent should earn an eight or higher, the KIA was given a score of six. Department: Role: Name: Office: News & Analysis. In 2017 S&P estimated the KIA’s AUM at 390% of GDP. The least I can do for my country is to be committed to my job and do my best at work for the sake of developing and advancing our community”. “The teamwork skills that we have gained at AUM helped me swiftly adapt to working with my colleagues. The Kuwait Investment Authority (KIA) has foreign assets under management (AuM) estimated at over $560 billion in 2019. Clause five of the law requires the KIA to present a report on AUM and performance to the Council of Ministers – comprising the Prime Minister and 15 portfolio-holders appointed by the emir – while clauses eight and nine prohibit any disclosure of this information to the wider public and detail penalties for those who release or publish such data. Global Investment House Maha K. Al-Ghunaim | Chairperson and Managing Director Global Investment House (Global) is a Kuwaiti investment company licensed by the Central Bank of Kuwait and listed on the Kuwait, Dubai, Bahrain and London Stock Exchanges. “The experiences we gained at the university and the opportunity to benefit from the expertise of our professors have qualified us to enter the labor market with skills that distinguish us from other graduates and helped us to develop our personal capabilities”. “I learned a lot at AUM and today I am trying to prove myself as a successful Kuwaiti woman in the field of oil and gas, and I believe in my ability to achieve all my professional goals”. NH / NantHealth, Inc. / KUWAIT INVESTMENT AUTHORITY ON BEHALF OF THE GOVT OF KUWAIT Passive Investment. Explore other chapters from this report. Set up in 2007 with $200 billion in capital and a mandate to … The London-based KIO has a long history of real estate investment in the UK through various companies. In 2013 Wren House Infrastructure Management was incorporated with an initial commitment of $5bn, and it is wholly owned by the FGF. This article is from the Economy chapter of The Report: Kuwait 2018. The GRF is the main repository for Kuwait’s oil revenue, and it holds other government assets, including a stake in the Kuwait Fund for Arab Economic Development and the Kuwait Petroleum Company. In 2014 the London KIO provided $1.5bn in seed capital to Cale Street Partners, a European-focused real estate venture. For instance, in 2010 the KIA paid $676m for a 4.82% stake in Areva, a largely government-owned French firm specialising in uranium and nuclear energy, but by 2016 the company’s share value fell by 90%. Kuwait Direct Investment Promotion Authority (KDIPA) established in accordance with Law No. Founded out of … The sheer weight of money behind the world’s largest 100 asset owners represents a huge opportunity to show leadership in the allocation of capital. 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