Infotech

Abu Dhabi sovereign wealth fund relies on India, China and Africa



Posted on Dec 10, 2019 2020 at 8:30

Despite the Covid-19 crisis, “China and India are likely to remain the main engines of long-term global growth”, estimates the sovereign fund Abu Dhabi Investment Authority (Adia) in its annual report. This year, it invested $ 750 million in India in digital services group Jio Platforms and a comparable amount in Reliance Retail group, both of which are owned by the conglomerate Reliance Industries. It also holds around fifteen holdings in Indian companies such as ICICI bank, Inox leisure (multiplex chains) and Amber Enterprises (air conditioning) …

The sovereign wealth fund wanted to participate in the IPO of the Chinese Ant Group, which was to take place in November before being postponed. “With their abundant natural resources, young, growing and increasingly educated populations, African countries are among those that offer the greatest potential for long-term investors”, also believes Adia.

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