BU DHABI/DUBAI: Abu Dhabi Investment Authority, one of the world’s largest sovereign wealth funds, is bullish on infrastructure and alternative investments in 2014, it said Tuesday after reporting that its 20-year annualized returns fell last year.
Based in the capital of the United Arab Emirates, ADIA manages the surpluses of Abu Dhabi’s earnings from oil exports and has assets estimated at $773 billion by the Sovereign Wealth Fund Institute.
Publishing its annual review for 2013, which provides rare insights into ADIA’s broad strategy, the fund said alternative investments – those outside mainstream areas such as equities and bonds – achieved their overall target last year. Its hedge fund portfolio delivered strong results despite difficult market conditions.
That trend will continue into this year as global economic conditions stabilize, the fund said.
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