Assets managed by Kuwait Investment Authority (KIA), Kuwait’s sovereign wealth funds, have grown more than 34% over the past five years, Finance Minister Anas al-Saleh said. He did not disclose the size of the assets. The Sovereign Wealth Fund Institute ranks KIA as the world’s fourth-biggest sovereign fund, managing USD524bn. KIA statement carried out by the country’s state news agency earlier this year implied the fund had assets of cUSD515bn as of March 2016. Among KIA’s high-profile investments, it owns 6.8% of German automaker Daimler AG and stakes in major Kuwait-based firms such as 18.4% of Kuwait Finance House, according to Thomson Reuters data.