The Abu Dhabi Investment Authority, one of the world’s biggest sovereign wealth funds, plans to continue betting on technology investments this year amid stellar growth in artificial intelligence.
An agile investment approach and active portfolio management helped it deliver strong returns and navigate market volatility and economic uncertainties last year, the fund said in its 2024 annual report on Wednesday.
“Technology and particularly the rise of artificial intelligence will remain at the forefront of public consciousness,” Sheikh Hamed bin Zayed, Adia's managing director, said.
“In coming years, the advancement of these technologies' capabilities, and their increasing integration into the fabric of the global economy, is poised to transform society.”
The fund broadened its “investable universe” to include asset classes such as private credit last year and actively managed private equity investments, as well as equities and equity-related opportunities.
At a portfolio level, the internally managed assets represented 65 per cent of Adia's total portfolio in 2024, with the remaining 35 per cent managed externally.
The sovereign fund said it remains “acutely aware that success in a rapidly changing world requires not only internal expertise but also strong external partnerships”.
Adia, which does not disclose its assets, invests on behalf of the Abu Dhabi government. It is the largest sovereign wealth fund in the Gulf, with assets touching $1.1 trillion, according to consultancy Global SWF.
Adia makes direct and indirect investments across asset classes such as equities, fixed income, infrastructure, private equity and property.
“Global markets in 2024 were a study in contrasts, in which economic, earnings, and technology-related optimism propelled risk assets to their second consecutive year of significant gains, even as geopolitical and structural risks mounted,” Sheikh Hamed said.
“Looking ahead, Adia is now entering a new phase in its evolution, shifting from laying foundational capabilities to refining and implementing data-driven investment decisions.”
Portfolio of investments
Developed equities accounted for the largest portion of Adia’s portfolio last year, ranging between 32 per cent and 42 per cent. Emerging market equities investments varied between 7 per cent and 15 per cent in 2024, according to the annual report.
Real estate accounted for 5 per cent to 10 per cent last year, while private equity investments accounted for 12 per to 17 per cent of its portfolio.
In terms of geographic spread, North America accounted for 45 to 60 per cent, Europe between 15 per cent 30 per cent, emerging markets for 10 per cent to 20 per cent, while 5 per cent to 10 per cent of Adia’s portfolio was concentrated in developed Asia, it said.
The Abu Dhabi’s fund's 20-year and 30-year annualised rates of return on a point-to-point basis were 6.3 per cent and 7.1 per cent, respectively in 2024, compared to 6.4 per cent and 6.8 per cent in 2023.
This year, Adia plans to the continue investing selectively in across assets classes including private equity and will seek to diversify its portfolio through alternative investments and private credit, it said.
In August, the fund said it is investing up to $1.5 billion in Singapore-based GLP to help the logistics investment company grow across markets. Adia, through one of its wholly owned subsidiaries, is investing $500 million in initial capital, which will help strengthen GLP’s financial position, the two companies said at the time.
In June last year, a subsidiary of the Abu Dhabi sovereign fund, together with global private equity investor Advent International, agreed to invest up to $3 billion for a minority stake in Fisher Investments, the money management company founded by billionaire investor Ken Fisher.
The investment by Advent and Adia of at least $2.5 billion valued FI at $12.75 billion, the Texas-based company said at the time.
Results
Female 49kg: Mayssa Bastos (BRA) bt Thamires Aquino (BRA); points 0-0 (advantage points points 1-0).
Female 55kg: Bianca Basilio (BRA) bt Amal Amjahid (BEL); points 4-2.
Female 62kg: Beatriz Mesquita (BRA) v Ffion Davies (GBR); 10-2.
Female 70kg: Thamara Silva (BRA) bt Alessandra Moss (AUS); submission.
Female 90kg: Gabreili Passanha (BRA) bt Claire-France Thevenon (FRA); submission.
Male 56kg: Hiago George (BRA) bt Carlos Alberto da Silva (BRA); 2-2 (2-0)
Male 62kg: Gabriel de Sousa (BRA) bt Joao Miyao (BRA); 2-2 (2-1)
Male 69kg: Paulo Miyao (BRA) bt Isaac Doederlein (USA); 2-2 (2-2) Ref decision.
Male 77kg: Tommy Langarkar (NOR) by Oliver Lovell (GBR); submission.
Male 85kg: Rudson Mateus Teles (BRA) bt Faisal Al Ketbi (UAE); 2-2 (1-1) Ref decision.
Male 94kg: Kaynan Duarte (BRA) bt Adam Wardzinski (POL); submission.
Male 110kg: Joao Rocha (BRA) bt Yahia Mansoor Al Hammadi (UAE); submission.
RESULTS
6.30pm: Al Maktoum Challenge Round-1 Group 1 (PA) Dh119,373 (Dirt) 1,600m
Winner: Brraq, Adrie de Vries (jockey), Jean-Claude Pecout (trainer)
7.05pm: Handicap (TB) Dh102,500 (D) 1,200m
Winner: Taamol, Connor Beasley, Ali Rashid Al Raihe.
7.40pm: Handicap (TB) Dh105,000 (Turf) 1,800m
Winner: Eqtiraan, Connor Beasley, Ali Rashid Al Raihe.
8.15pm: UAE 1000 Guineas Trial (TB) Dh183,650 (D) 1,400m
Winner: Soft Whisper, Pat Cosgrave, Saeed bin Suroor.
9.50pm: Handicap (TB) Dh105,000 (D) 1,600m
Winner: Hypothetical, Mickael Barzalona, Salem bin Ghadayer.
9.25pm: Handicap (TB) Dh95,000 (T) 1,000m
Winner: Etisalat, Sando Paiva, Ali Rashid Al Raihe
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
It's up to you to go green
Nils El Accad, chief executive and owner of Organic Foods and Café, says going green is about “lifestyle and attitude” rather than a “money change”; people need to plan ahead to fill water bottles in advance and take their own bags to the supermarket, he says.
“People always want someone else to do the work; it doesn’t work like that,” he adds. “The first step: you have to consciously make that decision and change.”
When he gets a takeaway, says Mr El Accad, he takes his own glass jars instead of accepting disposable aluminium containers, paper napkins and plastic tubs, cutlery and bags from restaurants.
He also plants his own crops and herbs at home and at the Sheikh Zayed store, from basil and rosemary to beans, squashes and papayas. “If you’re going to water anything, better it be tomatoes and cucumbers, something edible, than grass,” he says.
“All this throwaway plastic - cups, bottles, forks - has to go first,” says Mr El Accad, who has banned all disposable straws, whether plastic or even paper, from the café chain.
One of the latest changes he has implemented at his stores is to offer refills of liquid laundry detergent, to save plastic. The two brands Organic Foods stocks, Organic Larder and Sonnett, are both “triple-certified - you could eat the product”.
The Organic Larder detergent will soon be delivered in 200-litre metal oil drums before being decanted into 20-litre containers in-store.
Customers can refill their bottles at least 30 times before they start to degrade, he says. Organic Larder costs Dh35.75 for one litre and Dh62 for 2.75 litres and refills will cost 15 to 20 per cent less, Mr El Accad says.
But while there are savings to be had, going green tends to come with upfront costs and extra work and planning. Are we ready to refill bottles rather than throw them away? “You have to change,” says Mr El Accad. “I can only make it available.”
The Ashes
Results
First Test, Brisbane: Australia won by 10 wickets
Second Test, Adelaide: Australia won by 120 runs
Third Test, Perth: Australia won by an innings and 41 runs
Fourth Test: Melbourne: Drawn
Fifth Test: Australia won by an innings and 123 runs
Know before you go
- Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
- If you’re driving, make sure your insurance covers Oman.
- By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
- Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
- Flash floods are probable due to the terrain and a lack of drainage. Always check the weather before venturing into any canyons or other remote areas and identify a plan of escape that includes high ground, shelter and parking where your car won’t be overtaken by sudden downpours.
Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
