|The Abu Dhabi Investment Authority is considering the closure of its London office. “Adia is proposing to close its London office. This has no impact on our investments in, and commitment to, the UK, which will continue as before,” a spokesman for the fund said on Monday. The decision is expected to affect fewer than 20 jobs, Sky News reported.
“Insiders” said that the move was unrelated to the oil price slump and was instead motivated by a review of the fund’s operations, which had concluded that the London office was “non-core”. Adia ranks second behind Norway as the largest fund in the world, according to the Sovereign Wealth Fund Institute. In June, Adia said that its long-term returns last year rose as world equity and bond markets climbed amid low interest rates and a recovering global economy.............................................Full Article: Source