Mubasher: Kuwait Investment has announced converting its entire investments in a fund, which is one of its subsidiaries, to another fund, which is also one of its units.
The firm’s investments will be excluded from the first fund to be added to the second one, while its profits, which amount to KWD 457,000, will be listed in a statement during the second quarter of 2018, according to a bourse filing.
Kuwait Investment’s chairman had previously stated that the firm’s total assets stood at KWD 265 million, while the managed assets reached KWD 2.13 billion.
Kuwait Investment last reported a 313.1% leap in profits to KWD 16.44 million for the full fiscal year of 2017, compared to KWD 3.98 million in a year earlier.
