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Abu Dhabi Investment Authority Releases 2013 Annual Report

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The Abu Dhabi Investment Authority (ADIA) has released its 2013 annual report. The Gulf sovereign wealth fund detailed its 2013 experiences and organizational changes. ADIA’s Managing Director Hamed bin Zayed Al Nahyan commented in the report that, ” Beyond China, the emerging market world is becoming far more diverse, and less easy to classify. Meanwhile, the developed world remains critically important to global investors as it is still the primary source of high-quality, investable financial assets, and continues to set the agenda for economic policies and regulation.”

View Abu Dhabi Investment Authority Profile

The 2012 report took on a more positive tone on emerging markets. In 2013, ADIA made larger equity allocations in Asia and Southern Europe. The Gulf sovereign fund held its band in emerging market equities between 10% to 20%.

External Manager Process Changes

With around 75% of assets being externally managed, ADIA has modified some of its procedures. ADIA implemented an analyst note program which consolidates intelligence on individual asset managers and initiated a standardization process on manager reviews.

In addition, ADIA hired several new external managers in equities – selecting ones with high convictions and gearing toward alpha. ADIA’s hedge fund portfolio performed well, especially in the strategies of event-driven equities and equity hedge.

NZ Super Names Three New Board Members

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New appointments have been made to the Board of the Guardians of New Zealand Superannuation Fund (NZ Super). The appointments were made on July 19, 2018. The three new board members are Catherine Drayton, Simon Botherway and Henk Berkman.

According to the NZ Super press release, “Simon Botherway’s appointment runs from 1 August 2018 to 30 September 2021. He is a professional director with a history in investment, investment regulation and supervision. Other board roles have included his current position as Chair of Serko, a director on Callaghan Innovation and previously being the Chair of the FMA Establishment Board and a member of the Securities Commission.

Henk Berkman will serve from 1 October 2018 to 30 September 2022. He has been Professor of Finance, Department of Accounting and Finance at the University of Auckland since 2008. Mr Berkman has held previous professorial positions at Massey University, University of Sydney and the University of Maastricht.

Catherine Drayton will serve from 1 November 2018 until 30 September 2022. She is a Christchurch-based director who previously led the Assurance and Advisory Practice for PwC in Central Eastern Europe. Her public sector governance experience includes her current role as Chair of Christchurch International Airport and as a member of the University of Canterbury Council. Her experience as a Director of Ngai Tahu Holdings has provided her with iwi governance experience.”

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AIMCo Names Former Talisman Energy Executive to Board

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The Alberta Investment Management Corporation (AIMCo) appointed Jacqueline (Jackie) Sheppard as a member of the board of directors for a term set to expire on June 30, 2021. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Grant & Eisenhofer Reveals Fortis Investors to Receive $1.5 Billion in Mega Settlement

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Law firm Grant & Eisenhofer won a landmark case for its clients after a seven-year legal duel in Dutch courts. On July 13, 2018, the Amsterdam Court of Appeals officially approved the largest securities settlement ever reached in Europe, paving a path for international insurance company Ageas N.V./S.A. to begin payment of US$ 1.5 billion (€1.3 billion) to multiple groups of institutional and individual investors from Europe and the United States. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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