| The Abu Dhabi Investment Authority, one of the world’s biggest sovereign wealth funds, said its long-term returns last year rose as world equity and bond markets inched up amid low interest rates and a recovering global economy. Adia said it was optimistic about 2015, even as UAE economic growth is expected to slow after oil prices were nearly cut in half last year. The fund does not invest in domestic assets.
“The drop in oil prices will provide a boost to the economies of Europe, Japan, China and other big net oil importers,” said Hamed bin Zayed Al Nahyan, Adia’s managing director. “Outperformance of the US economy provides a welcome source of demand for the rest of the world. The recent evolution of asset prices – stronger US dollar, lower bond yields and broadly steady equity prices – should work in the direction of improving economic outcomes.”..............................................Full Article: Source
|