Kuwait sovereign fund may sell assets to cover deficit - report | Reuters

Kuwait sovereign fund may sell assets to cover deficit - report | Reuters:

"Kuwait's sovereign wealth fund, one of the world's largest, is considering selling assets to cover a state budget deficit caused by low oil prices, the country's al-Anba newspaper reported on Sunday, quoting unnamed sources.

The Kuwait Investment Authority (KIA), which is estimated to have more than $500 billion of assets, is studying whether to liquidate assets that generate annual returns of below 9 percent, the newspaper said.

The KIA's money is invested across the world, from the United States to Europe to China, in various asset classes including bonds, equities and real estate. The newspaper did not specify which asset classes might be sold."



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