DUBAI: Returns for Kuwait’s sovereign fund, the Future Generations Fund, grew 33% in the year to March 31, the finance ministry said on Twitter.

The fund is managed by the Kuwait Investment Authority (KIA), which had more than $580 billion in foreign assets at the end of last year, according to ratings agency Fitch.

A government source said the bull run in US stocks was one of the main drivers of the rise in the FGF’s returns, which increased by more than $150 billion in the last fiscal year.