China and India to drive growth, says Abu Dhabi Investment Authority

The Abu Dhabi Investment Authority has indicated that growth will be driven by emerging economies like China and India as most of its markets delivered dull results in 2015.

The Abu Dhabi Investment Authority is one of the largest sovereign-wealth funds in the world with investments in a range of sectors across the world. ADIA has assets worth more than $700 billion, according to estimates but the fund recorded small negative total returns for the year from both global equities and bonds.

The fund said that it earned 20-year annualized returns of 6.5 per cent in 2015 compared to 7.4 per cent in the previous year. The fund's 30-year annualized returns also fell to 7.5 per cent in the year compared to 8.4 per cent in

Sheikh Hamed bin Zayed Al Nahyan, the fund's managing director, said in the report's introductory remarks that most of the markets delivered comparatively lacklustre returns in 2015 compared to the stronger previous years. The fund said that it kept its asset-allocations constant during the previous year.

Mr. Al Nahyan said, "Those emerging economies that are positioned more as commodity producers are better placed to grow in the years ahead. China and India dominate this group, of course, and both offer promise based on evident efforts to reform."