Kuwait pension fund income up 8pc
Kuwait, June 16, 2011
Kuwait's government employee pension fund said on Thursday that its income rose more than eight percent in the fourth quarter of 2010 from a year earlier.
Total investments at the government-owned Public Institution for Social Security reached 15.9 billion dinars ($58 billion).
The pension securing institution owns stakes in various inlisted sectors which include Global Investment House, Burgan Bank, Kuwait Finance House, Investment Dar, Al-Ahli Bank of Kuwait and Ahli United Bank.
The fund's director general Fahad Al-Rajaan admitted there were losses, according to a report by state agency Kuna, but that they did not impact existing capital. - Reuters