Abu Dhabi Investment Authority (Adia): Special focus
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By:
Erica Jeffery
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Euromoney is the leading source for information about sovereign wealth funds. In April 2006 we were the first magazine to gain access to ADIA, and the facts and figures revealed in that story are used by many other information providers to this day.
Abu Dhabi Investment Authority (Adia), the largest sovereign wealth funds (SWF) in the Middle East, and one of the largest sovereign wealth funds in the world, is also one of the most secretive. Established in 1967, Adia has an estimated $627 billion assets under management, but has never published an official figure. It manages the Emirate of Abu Dhabi's excess oil reserves and its portfolio is said to grow at an annual rate of 10% compounded.
Get up to speed on Adia and the wealth funds today on euromoney.com.
"Adia, the world’s biggest sovereign wealth fund, invests in equities, fixed income, real estate, hedge funds, private equity and commodity trading advisers. These asset classes are then broken down further to allow for greater specialization. Overall, Adia’s asset allocation is roughly 50% to 60% in equities, 20% to 25% in fixed income, 5% to 8% in real estate, 5% to 10% in private equity and 5% to 10% in hedge funds and CTAs." Sovereign wealth funds: The new rulers of finance, December 2007
Abu Dhabi plans for a pleasant future Euromoney April 2008 "But Abu Dhabi reportedly gains more income now from its financial investments than from its oil revenues. For financiers, it is home to the fabled Abu Dhabi Investment Authority: the world’s biggest sovereign wealth fund, and one of the most secretive."
Sovereign wealth funds: Panic Published February 2008 International Financial Law Review "...the IMF has already asked Singapore, Norway and Abu Dhabi to help it draw up disclosure benchmarks for sovereign wealth funds...three funds are amongst the oldest and highest profile SWFs, though they differ in their levels of transparency. Norway's government fund is highly reputable and respected. The Government of Singapore's Investment Corporation and Abu Dhabi's Investment Authority meanwhile, are considered by some to be more secretive."
Euromoney December 2007 State-owned, cash-rich and increasingly influential, sovereign wealth funds have emerged as the most controversial players in the financial markets. All the constituents – banks, private equity, corporates, hedge funds – want a slice of their action. Just how powerful will the funds become?
Getting the basics right It is one thing to want a sovereign wealth fund but to actually set one up is a long and challenging process.
Financial institutions weigh up the opportunities The proliferation of sovereign wealth funds is an opportunity and challenge for investment banks and asset managers. The opportunity is clear: potential business.
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Bond Outlook November 28th "This week the “good news” was the USD 7.5 billion purchase of hybrid bonds in Citigroup by the Abu Dhabi Investment Authority suggesting that confidence in financial institutions may be returning"
The New Economics Arms Race Euromoney September 2006 The US is buried under a mountain of debt, much of it owned by past or current enemies. The ageing, ill man of Europe gets older and sicker. New economies of the Middle East, Latin America, emerging Europe and Asia are using windfalls to build for the future, and exert their influence across the globe. This is the new financial order. Markets will never be the same again.
Euromoney April 2006 Abu Dhabi Investment Authority is one of the world’s biggest institutional investors. It is also one of the most guarded. It publishes no numbers. It seldom makes any public statements. In a rare interview, two of its most senior officials lift the lid on the organization, revealing the reasons for its success. Sudip Roy reports from Abu Dhabi.
Abu Dhabi taps its own funds Euromoney April 2006 Although the oil-rich emirate does not need other people’s money to finance big-ticket projects, it has shown an increasing appetite for project finance.
Airline bond is a domestic market breakthrough Euromoney September 2001 "The UAE has 58,000 dollar millionaires and there is at least $10 billion of new investable money created each year, leaving aside the amount generated by the Abu Dhabi Investment Authority," says a banker. "If only a small percentage of this is diverted into local capital markets, the effect will be dramatic."
Arab 100 1998: Waiting for the after-shock Euromoney September 1998 "Arab Banking Corporation (2) and Gulf International Bank (16) both operate as offshore banking units (OBUs). The former, whose ranking remained unchanged, is owned by the Kuwait ministry of finance, the Abu Dhabi Investment Authority and the central bank of Libya, each of which have a one-third stake, and has a truly global outreach. "
