Bahrain To Restructure Board Of Wealth Fund Mumtakkat, BNA Reports

MILAN, Italy - Bahrain's Crown Prince Salman bin Hamad Al - Khalifa, the prime minister, has issued an order to restructure the board of sovereign wealth fund Mumtalkat Holdin with Finance Minister Salman bin Khalifa Al - Khalifa as its chairman, state news agency BNA reported on Sunday.

Mumtalakat, which has a little more than $18 billion in assets under management, released its standalone annual results in June, showing that it had swung to profit in 2021 from a loss in 2020.

Its portofolio includes stakes in British racing team and supercar maker McLaren and Aluminium Bahrain, the world's largest aluminium smelter outside of China.