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Alternative Market Briefing

ADIA invests 10% of its estimated $425bn in assets in hedge funds and managed funds

Thursday, March 18, 2010

From Komfie Manalo, Opalesque Asia:

The Abu Dhabi Investment Authority (ADIA), one of the largest sovereign wealth funds in the world, has allocated as much as 10% of its estimated $425 in assets to hedge funds and managed funds, the firm said in its 2009 annual report.

The report provided little details about the fund, but it also marks the first time that ADIA revealed some transparency over its portfolio. ADIA has long kept secret the size of its assets and gives very little information in its annual report, even as banks and other fund managers continue to try to find ways to gain allocations to manage portions of its multi-billion dollar portfolios.

ADIA managing director Sheikh Ahmed bin Zayed Al Nahyan, said in the report: "Having increased the overall liquidity in our portfolio from early 2008, we began in 2009 to cautiously lift our exposure to higher growth markets, which proved effective as the recovery began to take hold." And added: ..."Considerable uncertainty remains about the outlook for 2010."

Alternative investments The report also gave a brief glimpse on ADIA's Alternative Investment Department, which is in charge of the fund's investments in externally-managed futures and hedge funds. ADIA's portfolio of hedge fund investments is broadly diversified across macro, relative-value, event-driven and market-neutral equity strategies.

"In managed futures, our portfolio is spread across multiple strategies such as system......................

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