03.06.2015 - Abu Dhabi Wealth Fund Changing Tack Amid Lower Oil Prices
The Abu Dhabi Investment Authority, a sovereign-wealth fund with assets estimated at more than $700 billion, is relying less on external money managers and handling more of its investments in-house—a trend gaining traction at some of the largest managers of national wealth from Norway to Singapore. Funded by excess revenue from the government of Abu Dhabi, a major Persian Gulf oil producer, ADIA was managing 35% of its money in-house in 2014, compared with 25% in the previous year, according to an annual review released Tuesday. Investors watch ADIA’s allocations and money-management strategies carefully because of the effect a shift by a fund its size could potentially have on asset prices...............................................Full Article: Source
Print