Mubasher: Fourteen of the funds where Kuwait’s Public Institution for Social Security (PIFSS) invests in suffered losses, according to official data.
PIFSS invested around $294 million in several investment funds between 2003 and 2015. Its losses from these investments reached $181 million, according to finance minister Nayef Al-Hajraf, who presented the data before the Kuwaiti parliament.
Of the fourteen funds, two suffered 100% losses, while six others incurred losses representing 50% of invested capital, according to Alrai newspaper.
The lowest investment losses incurred in these funds was 36.6%.
