DOHA, Nov 20 (KUNA) -- Sovereign wealth funds (SWFs) are not likely to be influenced by the current fall of oil prices, chairman of the International Forum for Sovereign Wealth Funds (IFSWF) Bader Al-Saad said on Thursday.
SWFs mostly depend on long-term investments and do not react to a rise or fall of goods prices,, Al-Saad told KUNA on the sidelines of the Sixth IFSWF that kicked off in Doha earlier today.
Many countries are affected by the changes of oil prices, like the Gulf Arab States, just as others are impacted by the fluctuations major goods, Al-Saad said. He noted that Asian countries are hit by the slowdown of the global economy since they export to the US and Europe.
According to Al-Saad, the Kuwaiti Sovereign Wealth Fund is among the 10 largest worldwide and its investments are found all over the world. He said that a review of the Fund gained admiration of Kuwaiti MPs in a recent annual review. (pick up previous)