Bahrain, Kuwait SWFs most transparent

Bahrain and Kuwaiti sovereign funds have topped in transparency in the Gulf region, according to new research conducted by the independent Sovereign Wealth Fund Institute.

Both the funds – Bahrain Mumtalakat Holding Company and Kuwait Investment Authority – scored just six points on the Institute's Linaburg-Maduell Transparency Index.

The well-established Government of Singapore Investment Corporation was also awarded a comparable rating. The Linaburg-Maduell Transparency Index, developed at the Sovereign Wealth Fund Institute, is based on ten essential principles that depict sovereign wealth fund transparency to investors. These include the provision of percentage ownership of company holdings, financial returns, and geographic locations of holdings as well as the provision of clear strategies and objectives for the future.

The UAE's Investment Corporation of Dubai (ICD) ranked third with five points, followed by Saudi Arabian Monetary Agency, Abu Dhabi Investment Council and the RAK Investment Authority.