Home Industry Finance Kuwait pension fund plans to triple infrastructure investments PIFSS had a record investment profit of $7.3bn in the three months through June by Bloomberg August 12, 2020 Kuwait’s $112bn pension fund is looking to more than triple investments in infrastructure as part of its asset-allocation strategy over the next couple of years. “In infrastructure, we’re looking to build up aggressively,” Meshal Al-Othman, director general of the Public Institution for Social Security (PIFSS), said in an interview with Bloomberg TV on Tuesday. “We’re at 3 per cent today. We’re taking that up to roughly 10 per cent.” It will also “slightly increase” investments in hedge funds and real estate, he said. Al-Othman is part of a new management team brought in during 2017 to transform the state-owned institution after a corruption scandal involving a previous manager. The fund has since exited more than $20bn in questionable deals in a major reorganisation of its portfolio. PIFSS, as the fund is known, had a record investment profit of $7.3bn in the three months through June, an almost fourfold increase from a year earlier. It aims to have 12-17 per cent of its portfolio in real estate, followed by private equity at between 8-13 per cent. The team inherited a portfolio with a “humongous” 40 per cent sitting in cash, Al-Othman said. This is now at 11.5 per cent of its investments, which the fund aims to reduce to 4 per cent by March. Tags finance infrastructure Kuwait Private Equity Public Institution for Social Security Real Estate 0 Comments You might also like How REITs are unlocking the potential of UAE real estate Top marks for GCC nations in digital connectivity index Arista Properties makes an inaugural entry into the UAE UAE declares 3-day mourning period to condole Kuwait Emir Sheikh Nawaf’s death