DUBAI, June 2 Abu Dhabi Investment Authority
(ADIA), one of the world's biggest sovereign wealth funds,
managed more of its money in-house last year as it strengthened
its capabilities and added staff in some areas, ADIA said on
The proportion of its assets managed by external fund
managers fell to 65 percent last year from 75 percent in 2013,
the authority said in its annual review.
It said this was due to "our efforts over recent years to
strengthen the organisation's in-house investment and analytical
expertise". ADIA has 1,650 employees from 60 nationalities, the
ADIA did not disclose its total assets under management but
the U.S.-based Sovereign Wealth Fund Institute, which tracks the
industry, estimates them at $773 billion.
The authority invests across the world, from developed and
emerging market equities, fixed income and private equity to
real estate and infrastructure. Fifty-five percent of its assets
are invested via index-replicating strategies, it said.
The report indicated that ADIA would continue to expand some
of its in-house teams this year. Fixed income and treasury plans
to "selectively grow the size of all teams in 2015"; alternative
investments will recruit to strengthen itself in some areas, as
will real estate and private equity, ADIA said.
The authority's 20-year annualised rate of return rose to
7.4 percent at the end of last year from 7.2 percent at the end
of 2013. Its 30-year annualised rate of return rose to 8.4
percent from 8.3 percent.
(Reporting by Andrew Torchia; Editing by Olzhas Auyezov)