ADIA Says as Much as 45% of Assets Invested in Developed World

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The Abu Dhabi Investment Authority, one of the worlds’ largest sovereign wealth funds, has invested as much as 45 percent of its assets in developed markets, the fund said in its first annual review.

“We began in 2009 to cautiously lift our exposure to higher growth markets, which proved effective as the recovery began to take hold,” Sheikh Ahmed bin Zayed Al Nahyan, the fund’s managing director said in the 2009 report. “Considerable uncertainty remains” in 2010, he said.

Abu Dhabi, capital of the United Arab Emirates and home to about 8 percent of the world’s proven oil reserves, is trying to diversify away from oil. ADIA and its Norwegian and Chinese peers are the three largest sovereign wealth funds in the world, managing over $1 trillion between them, Preqin Ltd said March 11. The emirate lent neighboring Dubai $20 billion last year to help it meet its debt obligations.

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