14.08.2013 - Gulf funds riding oil wave to riskier investments, Moody’s says
High oil prices and poor returns on safe assets have pushed the GCC’s huge sovereign wealth funds into riskier investments in recent years, a report from Moody’s Investors Service says. The Abu Dhabi Investment Authority, which Moody’s estimates to hold $397 billion of assets, slightly lowered its target allocation to developed markets in an annual review in May. It also reinforced its commitment to emerging markets, which some analysts say signaled a growing taste for risk. “Over the past few years, several SWFs have modified their allocations to favor riskier investments,” the Moody’s report says, adding that the riskier plays “include direct investments and a shift from developed to emerging markets.”..............................................Full Article: Source
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