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Kuwait Investment Authority is planning to manage more of its own assets as the world's fifth-largest sovereign wealth fund seeks to take more risk to boost returns.The KIA, as the fund is known, wants to increase the allocation of funds managed in-house to as much as 8 percent from 1 or 2 percent at present, Managing Director Bader al-Saad said in an interview with Bloomberg Television Wednesday at the World Economic Forum in Davos, Switzerland. The KIA joins other wealth funds and institutional investors seeking to manage more assets internally as management fees come under scrutiny.The Abu Dhabi Investment Authority, the world's second-biggest wealth fund, is investing in areas such as real estate and private equity, reducing its reliance on outside managers each year.
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