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‘Investment company responsible to protect market’

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KIA plans to manage in-kind portfolios at KSE

KUWAIT CITY, Nov 30: An official source in the Hawalli Governorate Municipality told the Al-Rai daily that the cleaning of the Barayh Salem market is not the responsibility of the cleaning companies contracting with the Municipality, but the role of the investing company, saying “the municipality follows up on a daily basis the process of removing garbage containers from the vicinity of the market, and cleaning the streets.”

The Municipality added, what is resented is the habit of some communities who use the area as a meeting place, saying at the same time these gatherings cannot be prevented in the general situation. As for the decision to prevent entry to the market in the evening, specifically after closing the complexes and shops, it is in the hands of the investing company, and it can be done by posting security guards, especially since some services in the market are being misused, in addition to using the open areas to practice different kinds of sports including “cycling”.

Meanwhile, the Kuwait Investment Authority (KIA) is currently targeting, through its strategic plan, the appointment of investment managers to manage in-kind portfolios on its behalf at the Kuwait Stock Exchange, reports Al-Anba daily quoting responsible sources. The same sources said the KIA will target 4 companies who work as investment managers to carry out this task, including about 3 investment managers that the authority is currently dealing with who manage investment funds and the national portfolio on behalf of the authority, while a new company may enter the list of investment managers through the in-kind portfolio management portal.

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