The Kuwait Investment Authority said its funds invested in Russia and Ukraine are ‘negligible’ and do not exceed 0.29% of the total investments from the Future Generations Reserve Fund, reports Al-Jarida daily. The authority said, in a document sent to the Minister of Finance in response to a question by MP Abdulaziz Al-Saqabi, said Russian assets in Europe and America are “currently unattractive” due to the ongoing complications between Ukraine and Russia.
It explained that it retained 13% of its assets in liquid funds at the end of 2021, which is a higher percentage than the global average for asset managers, stressing that the Russian war on Ukraine, like all crises, will create investment opportunities in Russian assets available for sale in Europe and the United States.
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