CFAs Dominant in Abu Dhabi as Wealth Funds Trump Banks - Bloomberg Business:
"Abu Dhabi wealth funds are recruiting and creating more holders of the Chartered Financial Analyst designation than any other employer in the Middle East as they seek greater control over how the emirate’s wealth is managed.
The Abu Dhabi Investment Authority employs about 130 CFAs, a person with knowledge of the matter said, asking not to be identified as the information is private. Abu Dhabi Investment Company has at least 51. That makes them the two largest employers of CFAs in the region, according to rankings provided by the Charlottesville, Virginia-based CFA Institute.
The concentration of CFAs in Abu Dhabi speaks to the power of an array of sovereign funds in the city charged with investing hundreds of billions of the nation’s oil-generated riches. ADIA trails only Norway as the world’s largest sovereign wealth fund and still relies on outside managers for most of its investments. Other funds, such as Aabar Investments PJSC and Mubadala Development Co., are better known for taking direct stakes in companies such as Glencore Plc."
'via Blog this'
No comments:
Post a Comment