The 38-year-old sovereign wealth fund's investment portfolio remained unchanged in 2013 with developed markets equities at 32 per cent to 42 per cent of total allocations and emerging markets equities at 10 per cent to 20 per cent.
In terms of geographies
In equities, last year, additional funds were allocated to its core European, Emerging Europe and
Last year, Adia received approval from the Chinese market regulator to increase its allocation to Chinese A shares under the Qualified Foreign Institutional Investor scheme from
On the fixed income front Adia invests in global government bonds, global inflation linked bonds, emerging market bonds, global investment-grade credit and non-investment-grade credit. Last year despite the continuation of bond buying programme in the US and easy money policy across many countries, yields rose in global bond markets and broad market indexes recorded negative total returns for the first time since 1994.
On the bond investment front Adia said it expanded the investment universe within the guidelines across various mandates to enhance alpha opportunities in a risk-controlled manner. There was also a focus on exploiting opportunities in the stressed credit space as banks across
In other asset classes, Adia said its real estate team, which manages 5 per cent to 10 per cent of its assets, was "broadening its scope toward opportunities" in
The authority, which employs more than 1,500 people from 60 nationalities, also invests in small capitalisation equities, fixed income, infrastructure, hedge funds and private equity.
In 2014, Adia plans to expand its infrastructure team while improving its risk management capabilities, it said.
"We have built out our investment teams in the illiquid space, such as real estate, infrastructure and, more recently, private equity, adding considerable expertise across geographies and asset specialisation," said
"These efforts have strengthened Adia's ability to take a holistic, global view of its investments, while also allowing us to target more specific opportunities with attractive return characteristics."
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