Kuwait names new wealth fund board

The KIA is the world’s oldest sovereign fund with stakes in ports, airports and power distribution systems around the world. It also manages the OPEC member’s General Reserve Fund. Reuters file pic of Kuwait City.

KUWAIT appointed a new board to its US$700 billion sovereign wealth fund after a delay of more than three months due to disagreement over the make up the nine-member body.

The formation of a new management team ends a period of limbo at the world’s third-largest sovereign wealth fund following the completion of the former board’s tenure on April 20.