The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookiesbefore using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Middle East sovereign wealth: Slim pickings in Adia’s dated review

There are interesting titbits on Africa, private debt and renewable energy at the Abu Dhabi sovereign wealth fund.


In the final month of 2020, the Abu Dhabi Investment Authority (Adia) has just got around to producing its review for 2019.

It is characteristically light on data: not only, like many sovereign wealth fund annual reviews, is it chronically out of date in that it predates the Covid-19 pandemic. It also doesn’t tell us how much money Adia manages. (It never does, and probably never will.)

But that’s just how it is in the Gulf: Adia at least reveals more than its peers in Saudi Arabia and Qatar, including, for example, the asset allocation ranges it invests within over the long term. And it provides only a few nuggets of wisdom about what this vast fund, certainly one of the largest in the world, does with its money.

African countries are among those offering the greatest potential for long-term investors
Adia report

The headline data is the return figure, which, like peers such as the Government of Singapore Investment Corporation, is reported only on a long-term basis: 4.8% annually over 20 years, and 6.6% over 30 years.

Again, like GIC, it is curious how an event two decades ago can make returns look weak today, in this case the run-up to the tech stock crash slipping out of the 20-year figures.


You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree