The Kuwait Investment Authority, which manages more than $800 billion in government funds, is poised for one of its best fiscal years on record amid a broad market rally that drove double-digit returns at the sovereign investor.
More than 50% of the KIA’s investments are in the US, according to people familiar with the matter. Last year’s surge in the S&P 500 and Nasdaq 100 helped boost returns in the 11 months to February, the people said, asking not to be named while discussing confidential information.