Kuwait pension fund reports record annual performance

The fund says it follows a conservative investment strategy. (Reuters)
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Updated 24 June 2021
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Kuwait pension fund reports record annual performance

  • PIFSS saw annual return of 16.5 percent through March 31
  • Fund had $133.7 billion AUM at end of period

RIYADH: Kuwait’s Public Institution for Social Security (PIFSS) achieved its best annual performance ever with a 16.5 percent rate of return in the year to March 31.

The pension fund ended the fiscal year with $133.7 billion in assets, an increase of 20.9 percent on the year earlier period, it said in a statement on Wednesday. Cash now accounts for 4 percent of its investments, down from about 11.5 percent a year ago.

The performance reflects the fund’s “robust” investment policy and the record performance of capital markets, said Director General Meshal Al-Othman. “The management follows a conservative investment strategy well positioned to absorb and overcome expected fluctuations in international markets in the medium-term,” he said.

PIFSS owns 25 percent of Oak Hill Advisers and 10 percent of TowerBrook Capital Partners LP.


Multilateralism strained, but global cooperation adapting: WEF report

Updated 10 January 2026
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Multilateralism strained, but global cooperation adapting: WEF report

DUBAI: Overall levels of international cooperation have held steady in recent years, with smaller and more innovative partnerships emerging, often at regional and cross-regional levels, according to a World Economic Forum report.

The third edition of the Global Cooperation Barometer was launched on Thursday, ahead of the WEF’s annual meeting in Davos from Jan. 19 to 23.

“The takeaway of the Global Cooperation Barometer is that while multilateralism is under real strain, cooperation is not ending, it is adapting,” Ariel Kastner, head of geopolitical agenda and communications at WEF, told Arab News.

Developed alongside McKinsey & Company, the report uses 41 metrics to track global cooperation in five areas: Trade and capital; innovation and technology; climate and natural capital; health and wellness; and peace and security.

The pace of cooperation differs across sectors, with peace and security seeing the largest decline. Cooperation weakened across every tracked metric as conflicts intensified, military spending rose and multilateral mechanisms struggled to contain crises.

By contrast, climate and nature, alongside innovation and technology, recorded the strongest increases.

Rising finance flows and global supply chains supported record deployment of clean technologies, even as progress remained insufficient to meet global targets.

Despite tighter controls, cross-border data flows, IT services and digital connectivity continued to expand, underscoring the resilience of technology cooperation amid increasing restrictions.

The report found that collaboration in critical technologies is increasingly being channeled through smaller, aligned groupings rather than broad multilateral frameworks.  

This reflects a broader shift, Kastner said, highlighting the trend toward “pragmatic forms of collaboration — at the regional level or among smaller groups of countries — that advance both shared priorities and national interests.”

“In the Gulf, for example, partnerships and investments with Asia, Europe and Africa in areas such as energy, technology and infrastructure, illustrate how focused collaboration can deliver results despite broader, global headwinds,” he said.

Meanwhile, health and wellness and trade and capital remained flat.

Health outcomes have so far held up following the pandemic, but sharp declines in development assistance are placing growing strain on lower- and middle-income countries.

In trade, cooperation remained above pre-pandemic levels, with goods volumes continuing to grow, albeit at a slower pace than the global economy, while services and selected capital flows showed stronger momentum.

The report also highlights the growing role of smaller, trade-dependent economies in sustaining global cooperation through initiatives such as the Future of Investment and Trade Partnership, launched in September 2025 by the UAE, New Zealand, Singapore and Switzerland.

Looking ahead, maintaining open channels of communication will be critical, Kastner said.

“Crucially, the building block of cooperation in today’s more uncertain era is dialogue — parties can only identify areas of common ground by speaking with one another.”