Monday, September 20, 2021

Abu Dhabi wealth fund to focus on tech, climate change after COVID-19

Abu Dhabi Investment Authority (ADIA), the United Arab Emirates’ biggest sovereign wealth fund, sees technology and climate change as key investment areas for its post-COVID-19 strategy, it said in its 2020 annual review.

ADIA, which manages capital on behalf of the oil-rich Abu Dhabi government, does not disclose the value of its assets but the Sovereign Wealth Fund Institute, a research group, estimates them at $649 billion.

As of the end of last year ADIA achieved 20-year and 30-year annualised rates of return of 6 per cent and 7.2 per cent respectively, compared with 4.8 per cent and…

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