Kuwait Investment Authority

The Kuwait Investment Authority ( KIA ) ​​is a central agency of the Government of Kuwait, which has the overall supervision of various state funds, of which the two largest investment funds alone have a size of about 400 billion U.S. dollars.

History

The KIA was founded in 1982 as a Public Investment Authority (German authority for public investment ) and took over its previously settled in the area of finance and other authorities task to invest a portion of oil revenues of Kuwait for the period after the depletion of oil reserves in the country. They also took over the supervision of the Kuwait Investment Office, founded in 1953 ( KIO until 1965 Kuwait Investment Board ) in London, now the most important branch of the KIA.

KIA cared until today the investment of funds of Kuwait General Reserve Fund, the Kuwait Future Generations Fund and other reserves of the Ministry of Finance of Kuwait.

The Kuwait Future Generations Fund invests each year to 10 % of annual oil revenues of the country. In the tax year 2004/2005 the amount invested was 896.24 million Kuwaiti dinars (equivalent to $ 3,069.21 million U.S. dollars, 1 KWD = 3.42454 USD )

It is estimated that KIA holds about $ 213 billion in assets, making it one of the largest sovereign wealth fund in the world.

The KIA holdings include large stakes in Daimler AG and BP.

Organization

Kia's Directors is led by the finance minister of Kuwait. More seats charge the Energy Secretary, the head of Kuwait's Central Bank, the Secretary of the Treasury and five investment professionals, including at least three without national office.

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