Second globally, Kuwait Investment Authority manages assets worth $708bln

Second globally, Kuwait Investment Authority manages assets worth $708bln

Kuwait - The Middle East is a major center for the global investment industry given the number of wealthy economies in the region, in addition to huge oil revenues and investment-friendly government policies, which have contributed to the prosperity of the investment climate, reports Al-Anba daily quoting APN News.

The site added that regional governments have long adopted an active role in the investment scene in the Middle East, given that the largest investment bodies in the region actually belong to governments. The site said that the main criteria for qualifying for the list of the top 10 funds are the size of the assets under management of the investment entity.

It is clear that the investment industry in the Middle East enjoys a clear dominance of sovereign wealth funds owned by governments among the largest investors in the region, as nine out of ten major investment entities in the region are SWFs and investment vehicles owned by governments. The site said that the Kuwait Investment Authority (KIA) occupies the second place on its list in terms of assets under management, which amount to $708 billion, slightly less than its predecessor, the Abu Dhabi General Investment Authority, by $709 billion. The Kuwait