26.01.2009 - Kuwait sovereign fund cuts stocks, shifts to cash

From Reuters: The Kuwait Investment Authority (KIA), the Gulf Arab state's sovereign wealth fund, has reduced exposure to global stock markets since October, shifting assets instead into short-term cash funds, a government report said. In a briefing to parliament, the government said KIA had cut the ratio of international share investments in a key fund in a bid to minimise the effect of the global financial crisis on Kuwait, the world's seventh-largest oil exporter..... Full Article: Source

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