Abu Dhabi SWF unveils portfolio changes

Abu DhabiThe Abu Dhabi Investment Authority (Adia) has made several changes to its portfolio, including merging its Gulf and wider Middle East and North Africa (Mena) investments, and increasing its quota in Chinese A-shares.

Adia, which invests funds on behalf of the government of the Emirate of Abu Dhabi, has allocated additional funds to several equity mandates in Europe, Emerging Europe, South Africa, and Equity Opportunities.

The changes took place over the past year and are contained in Adia’s annual report, published this week.

The merger of the Gulf Corporation Council and Mena portfolios was to increase flexibility for tactical country allocation, Adia says.

Adia also received approval from the Chinese market regulator to increase its allocation to Chinese A-shares under the Qualified Foreign Institutional Investor scheme to $500 million (€385 million) from $200 million.

On the fixed income side, Adia allocated to non-investment grade credit and made a number of new investments in real estate, and infrastructure.

About 75% of Adia’s assets are managed by external fund managers and 55% are invested in index-replicating strategies.

©2013 funds europe