Abu Dhabi Investment Authority (ADIA), the cash-rich emirate's sovereign wealth fund, expects emerging market stocks to outperform in the long-term and said it took a "selective" approach in deploying money at its fixed income unit in 2011.
ADIA, whose assets range from Citigroup bonds to a stake in Britain's Gatwick airport, said high volatility in emerging market stocks had more to do with increased risk aversion among investors than fundamental concerns.
"Looking forward, it is likely that such volatility will decline over time as investors gain confidence in the ability of emerging markets to manage the various challenges they face and begin to focus more on economic fundamentals," the fund said in its 2011 review.
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