Winning investments: UAE Mubadala's 2019 income surges to $14.43bln

Mubadala's assets under management grew 1.5% to $232bln in 2019, according to the company's annual review

Modern Skyscrapers in Abu Dhabi. Image used for illustrative purpose.

Modern Skyscrapers in Abu Dhabi. Image used for illustrative purpose.

Getty Images

Abu Dhabi's state investor, Mubadala Investment Company, has seen a big surge in its comprehensive income at 53 billion UAE dirhams ($14.43 billion) in 2019 from 12.5 billion UAE dirhams($3.40 billion) in the previous year, mostly due to gains in equity and fund investments as well as growth of assets.

According to the company's annual review released on Thursday, Mubadala invested 68 billion UAE dirhams in various asset classes and growth sectors ranging from credit to technology, life sciences, health care, renewables, transportation and agribusiness.

Mubadala's assets under management grew 1.5 percent to $232 billion in 2019, it said.

Last year, the company concluded a number of key transactions and established new partnerships to invest locally and internationally across sectors that contribute towards the advancement of Abu Dhabi’s economy and its diversification, it said.

While 11 percent of Mubadala's portfolio comprised of real estate and infrastructure investment, about 43 percent were in investments in private equity and 21 percent in public markets.

Last week, the Abu Dhabi state fund, which has shareholdings in Carlyle Group and General Electric, took a 1.85 percent stake in the digital unit of India's Reliance Industries for $1.21 billion.

In the UAE, Mubadala has stakes in property developer Aldar, green-energy behemoth Masdar and investment firm Aabar.

(Reporting by Seban Scaria, editing by Daniel Luiz)



Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here

© ZAWYA 2020

More From Wealth Management