International financial firms mulling a move to Global Marketplace Abu Dhabi need little reminding of the large concentration of institutional wealth based in the emirate.
Some of the world's largest sovereign wealth funds and several state pension funds are located in the capital, not least of which is the Abu Dhabi Investment Authority (Adia).
The precise size of the capital's sovereign wealth fund is unknown, but it is one of the world's biggest government investors and is routinely approached directly by the world's investment banks.
Abu Dhabi's government investment vehicles were increasingly looking overseas, creating opportunities for international firms that could advise them, said Rachel Ziemba, the director of emerging markets at Roubini Global Economics.
"We've already seen an increase in offshoots and spin-offs from big sovereign funds in Abu Dhabi," she said.
Gaining access to these mandates from these funds could create a lucrative incentive that the Government could offer in trying to attract international asset managers, Ms Ziemba added.
"One of the quid pro quos for gaining some of the local institutional wealth might be location in Abu Dhabi or at least a presence," she said. "You've seen that to some extent for government contracts."
But deep institutional wealth that targets local markets was still in shorter supply in the UAE than elsewhere, she added.
"This is still a region that doesn't have a lot of institutional players in local markets," she said. "We're probably seeing more globally focused funds being spun out because of concerns over lack of liquidity on local markets."
The Abu Dhabi Investment Council was spun out of Adia in 2006 to manage the Government's domestic portfolio of companies. It owns controlling stakes in National Bank of Abu Dhabi and Abu Dhabi Commercial Bank, and fully owns Al Hilal Bank and InvestAD. It also has a large global investment mandate.
The Emirates Investment Authority, the UAE's federal sovereign wealth fund, is smaller in size, but owns sizeable stakes in the telecommunications firms Etisalat and du and has been behind plans to merge the nation's stock exchanges.
Domestic pension funds represent a smaller pot of assets than in Europe or the United States, but funds such as the UAE General Pensions and Social Security Authority and the Abu Dhabi Retirement Pensions and Benefits Fund also hold a large proportion of their assets internationally.
ghunter@thenational.ae
Why does a queen bee feast only on royal jelly?
Some facts about bees:
The queen bee eats only royal jelly, an extraordinary food created by worker bees so she lives much longer
The life cycle of a worker bee is from 40-60 days
A queen bee lives for 3-5 years
This allows her to lay millions of eggs and allows the continuity of the bee colony
About 20,000 honey bees and one queen populate each hive
Honey is packed with vital vitamins, minerals, enzymes, water and anti-oxidants.
Apart from honey, five other products are royal jelly, the special food bees feed their queen
Pollen is their protein source, a super food that is nutritious, rich in amino acids
Beewax is used to construct the combs. Due to its anti-fungal, anti-bacterial elements, it is used in skin treatments
Propolis, a resin-like material produced by bees is used to make hives. It has natural antibiotic qualities so works to sterilize hive, protects from disease, keeps their home free from germs. Also used to treat sores, infection, warts
Bee venom is used by bees to protect themselves. Has anti-inflammatory properties, sometimes used to relieve conditions such as rheumatoid arthritis, nerve and muscle pain
Honey, royal jelly, pollen have health enhancing qualities
The other three products are used for therapeutic purposes
Is beekeeping dangerous?
As long as you deal with bees gently, you will be safe, says Mohammed Al Najeh, who has worked with bees since he was a boy.
“The biggest mistake people make is they panic when they see a bee. They are small but smart creatures. If you move your hand quickly to hit the bees, this is an aggressive action and bees will defend themselves. They can sense the adrenalin in our body. But if we are calm, they are move away.”
COMPANY%20PROFILE
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Directed by: Craig Gillespie
Starring: Emma Stone, Emma Thompson, Joel Fry
4/5
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants
How it works
Each player begins with one of the great empires of history, from Julius Caesar's Rome to Ramses of Egypt, spread over Europe and the Middle East.
Round by round, the player expands their empire. The more land they have, the more money they can take from their coffers for each go.
As unruled land and soldiers are acquired, players must feed them. When a player comes up against land held by another army, they can choose to battle for supremacy.
A dice-based battle system is used and players can get the edge on their enemy with by deploying a renowned hero on the battlefield.
Players that lose battles and land will find their coffers dwindle and troops go hungry. The end goal? Global domination of course.
The specs
Engine: 2.0-litre 4-cylturbo
Transmission: seven-speed DSG automatic
Power: 242bhp
Torque: 370Nm
Price: Dh136,814
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
What is a calorie?
A food calorie, or kilocalorie, is a measure of nutritional energy generated from what is consumed.
One calorie, is the amount of heat needed to raise the temperature of 1 kilogram of water by 1°C.
A kilocalorie represents a 1,000 true calories of energy.
Energy density figures are often quoted as calories per serving, with one gram of fat in food containing nine calories, and a gram of protein or carbohydrate providing about four.
Alcohol contains about seven calories a gram.
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
The bio
Studied up to grade 12 in Vatanappally, a village in India’s southern Thrissur district
Was a middle distance state athletics champion in school
Enjoys driving to Fujairah and Ras Al Khaimah with family
His dream is to continue working as a social worker and help people
Has seven diaries in which he has jotted down notes about his work and money he earned
Keeps the diaries in his car to remember his journey in the Emirates
COMPANY%20PROFILE
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Bharat
Director: Ali Abbas Zafar
Starring: Salman Khan, Katrina Kaif, Sunil Grover
Rating: 2.5 out of 5 stars
Diriyah%20project%20at%20a%20glance
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COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
SPEC%20SHEET%3A%20APPLE%20M3%20MACBOOK%20AIR%20(13%22)
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