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ADIA Nets Positive Return for 2017

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The Abu Dhabi Investment Authority (ADIA) issued its 2017 results. ADIA’s 20-year return bumped up to 6.5% from 6.2% in 2016. Externally-managed assets dropped to 55% from 65% in 2014. 50% of the sovereign fund’s assets are managed by index-replicating strategies, including smart beta strategies. In the 2017 ADIA Review, the report states, “Trying to time markets is extremely difficult, and dangerous, for large and diversified global investors. A more practical approach is to view cycles as opportunities, and to prepare strategies that limit drawdowns and provide sufficient available capital to take advantage of lower asset prices when markets turn lower.”

ADIA’s external equities department has an active focus. The whole external equities department maintains a single global equities pool with a cadre of external fund managers.

Calendar Year Externally-Managed Internally-Managed
Dec 2017 55% 45%
Dec 2016 60% 40%
Dec 2015 60% 40%
Dec 2014 65% 35%

  

ADIA formed the Strategy and Planning Department (SPD), in a move to streamline the sovereign wealth fund’s organization, while reducing complexity, something other large asset owners such as CalPERS have been attempting to do since 2010. SPD is also working on a Risk-Return project to develop allocation of risk in investment departments.

Private Equity

ADIA also changed the organization of its private equity group as the fund wants to make more principal investments. ADIA switched from a buyout-growth-VC product structure to a sector based on five key sectors: Financial Services, Healthcare, Industrials, Technology and Consumer.

CalPERS CFO Out over Questions on Resume from Media

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Charles Asubonten has exited as Chief Financial Officer of the California Public Employees’ Retirement System (CalPERS). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Crown Court Dismisses Charges on Barclays Qatar Loan Deal

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Barclays can breathe some fresh air for now over a high-profile corporate case. In February 2018, the U.K. Serious Fraud Office (SFO) had brought charges against Barclays and Barclays Bank in regard to the capital raising deals made in 2008. The bank could have lost its banking license, if found guilty of the charges. A number of bank executives were personally charged as well.

The Charges

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Mubadala Participates in PLT Platform Expansion

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The Russian Direct Investment Fund (RDIF) corralled a number of Middle Eastern funds, including the Mubadala Investment Company, to augment investment exposure to a logistics infrastructure investment platform called Professional Logistics Technologies (PLT). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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