#Kuwait's sovereign wealth fund says #Russia investments 'negligible', document shows | Reuters

Kuwait's sovereign wealth fund says Russia investments 'negligible', document shows | Reuters

Kuwait's sovereign wealth fund said the exposure of its main long-term investment fund to Russia and Ukraine was no more than 0.29% of total investments as it had been underweight on the region even before the war, a document reviewed by Reuters showed.

The Kuwait Investment Authority held cash worth 13% of its total assets at the end of 2021, higher than global asset managers' average, that it could deploy, it said in the document dated March 22. It was sent to the finance ministry in response to a parliamentary query about the impact on KIA's investments from Western sanctions on Russia after its invasion of Ukraine.