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Mumtalakat Set to Double Contributions to Bahrain Budget

2nd March, 2021

In common with other oil-producing Gulf states, Bahrain is facing a financial crunch with a forecast deficit of BHD1.2 billion (US$3.2 billion) this year, following a 5.4% slump in GDP last year.

Kuwaiti Government's Cash Crunch Puts Spotlight on KIA

3rd February, 2021

The Kuwaiti government has sold its last performing assets to the Kuwait Investment Authority (KIA) in a bid to bridge its yawning budget deficit as it struggles to pay its bills, but the ongoing fiscal problems and political resistance from parliament pose a challenge to the KIA's future.

The Great Disconnect

27th January, 2021

Future Fund published today its year-end performance, confirming the great disconnect between financial markets and economic reality

Fund of the Month (Oct'20): ISIF

1st October, 2020

The Ireland Strategic Investment Fund (ISIF) was established in 2014 as the successor of the National Pensions Reserve Fund (NPRF), under the umbrella of the National Treasury Management Agency (NTMA).

Fund of the Month (Sept'20): FSDEA

1st September, 2020

The Fundo Soberano de Angola (FSDEA) was established in 2012 with an initial injection of USD 5 billion from O&G proceeds, which made it (and still is) the largest SWF in all of Sub-Saharan Africa. Since then, the fund has gone through various Governance issues, with the son of the country’s President, José Filomeno “Zenú” dos Santos, acting as its Chairman. On August 15, 2020, after an eight-month trial, Zenú was sentenced to five years in jail for embezzling US$ 0.5 billion from the Central Bank. This could be a second chance for the SWF, despite the significant withdrawals faced during the past 14 months. We had the pleasure of catching up with Miguel Carneiro, former Head of Alternatives Investments at FSDEA and currently a partner at AFC & Partners.

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