23.03.2016 - Lower oil tests sovereign wealth funds
Bader Al Sa’ad, the head of the Kuwait Investment Authority, isn’t spending much time these days assessing new investments. Instead he is advising his government as it moves to establish a debt management office. Circumstances have changed in the Gulf, bringing in their wake a host of ripple effects. A while ago, the biggest headache for the sovereign wealth funds of the Middle East was finding safe but profitable homes for their portion of swelling oil revenues. Now, many are fortunate if they do not have to liquidate holdings at the request of their cash strapped governments. Kuwait is among the best managed of the sovereign wealth funds in the Gulf which means it is under less pressure to sell, rather it is simply putting out less new money...............................................Full Article: Source
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