May 27 2013

Abu Dhabi Investment Authority went through vendor selection process in 2012

Monday, May 27, 2013

Abu Dhabi:

Abu Dhabi Investment Authority’s (Adia) Fixed Income & Treasury Department went through a successful vendor selection process in 2012 to install a new market-leading technology system that will be specifically tailored to ADIA’s needs.

“The new system will support the Department’s portfolio management and decision-making activities, including risk management and performance attribution, and is due to be fully implemented during 2013 and 2014,” Adia said in its latest review.

It added: “On the investment front, the Department continued to adapt to market changes in 2012. An allocation to non-investment grade credit was introduced into the strategic neutral fixed income benchmark. The External team conducted an extensive search process during the first half of the year to identify a shortlist of non-investment grade managers with clearly distinct investment philosophies, low correlation between historical alpha returns, and minimal overlap in key areas such as type of securities, issuers and sectors. This strategy was then implemented using a phased approach during the second half of the year.”

By Himendra Mohan Kumar Staff Reporter

Gulf News 2013. All rights reserved.

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