World’s Oldest Wealth Fund Swells to Record and Cracks the Top 3
- Kuwait’s Future Generations Fund is its national savings pot
- More than half of $700 billion fund is invested in U.S. assets
Photographer: Yasser al-Zayyat/AFP/Getty Images
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Kuwait Investment Authority likely broke into the world’s top three sovereign wealth funds by assets.
The Future Generations Fund, managed by the authority known as KIA, has risen to a record of about $700 billion, according to a person with knowledge of the matter. Its assets were valued at around $670 billion at the close of the last fiscal year on March 31, the person said, asking not to be named discussing confidential information.