Home GCC Kuwait Kuwait’s $134bn pension fund has record gain in turnaround The $134bn pension fund recorded 20.9 per cent growth in assets in the year ended March 31 by Bloomberg June 24, 2021 Kuwait’s Public Institution for Social Security had its best ever annual performance, emerging as a new regional investment powerhouse despite political deadlock in the country. The $134bn pension fund, which owns a quarter of US private equity firm Stone Point Capital, recorded 20.9 per cent growth in assets in the year ended March 31, according to a statement on Wednesday. A new management team was brought into the fund in 2017 to transform the state-owned institution after its former head was found guilty of personally profiting from the organization over decades. Cash now accounts for 4 per cent of its investments, down from about 11.5 per cent a year ago. The performance reflects the fund’s “robust” investment policy and the record performance of capital markets, said Director General Meshal Al-Othman. “The management follows a conservative investment strategy well positioned to absorb and overcome expected fluctuations in international markets in the medium-term,” he said. PIFSS, as the fund is known, also owns 25 per cent of Oak Hill Advisors and 10 per cent of TowerBrook Capital Partners. Tags assets Capital Markets Investment Strategy Kuwait pension fund 0 Comments You might also like Qatar strikes another 15-year LNG supply deal with Kuwait Kuwait authorities say power cuts are ending soon Exploring Earth’s extremes with Yousef AlRefaie Kuwait posts budget deficit of KWD1.6bn in FY 2023/24