Bahrain sovereign wealth fund to diversify

Mumtalakat, Bahrain's sovereign wealth fund, plans to diversify away from private equity projects and into stocks and bonds, Reuters has reported. Talal Al Zain told the news service that Mumtalakat expects to receive a credit rating this year, which would allow it to tap capital markets for funding, including Islamic bonds. 'We want to diversify. We will be looking at investments across markets. Our immediate focus will be to diversify investments, channel funds more towards liquidity, that is fixed income, equity markets,' he said.