Abu Dhabi has been ranked as the world's top city for sovereign wealth fund (SWF) capital, managing $1.67 trillion in assets, according to a new report by industry specialist Global SWF.
The UAE capital is home to major funds including the Abu Dhabi Investment Authority, Mubadala Investment Company and investment and holding company ADQ. The report also included the assets of the Abu Dhabi Fund for Development, Tawazun (including Edge) and federal fund the Emirates Investment Authority, it said.
Norway's capital Oslo, which hosts the Government Pension Fund managing $1.66 trillion, ranked second. Other top cities in the ranking include Beijing ($1.3 trillion, headquarters of the China Investment Corporation), Singapore ($1.13 trillion, GIC Private and Temasek Holdings), Riyadh ($1.11 trillion, home to Public Investment Fund), and Hong Kong ($1.1 trillion, home to China’s SAFE Investment Corporation).
In total, SWFs managed $12.5 trillion in assets as of October 1, with the top six cities accounting for almost two-thirds of these resources.
State-controlled funds from Saudi Arabia, the UAE and Qatar led global sovereign investments in the first six months of this year, with a broad focus on sustainable assets in a push to expand their portfolios, Global SWF said in July.
Investments by the PIF, Mubadala, Adia, ADQ and Qatar’s state investment arm, the Qatar Investment Authority, accounted for more than half of the total sovereign investments during the first half of this year, with their aggregate investment during the period reaching $38.2 billion through 58 deals.
Meanwhile, in the first three quarters of 2024, Adia, Mubadala, and ADQ invested $36 billion in deals globally, accounting for two-thirds of what all Gulf SWFs invested, and 26 per cent of SWF investments, the latest Global SWF report found.
Adia, which invests on behalf of the Abu Dhabi government, makes direct and indirect investments across asset classes such as equities, fixed income, infrastructure, private equity and property, and is among the largest SWFs in the world. Its assets are estimated at $993 billion, credit rating agency DBRS Morningstar said last year, quoting data from Global SWF.
With assets of more than Dh1.11 trillion ($302.2 billion), Mubadala is at the heart of Abu Dhabi's efforts to diversify its revenue base. Its interests span six continents and include the aerospace, semiconductors, metals and mining, renewable energy, oil and gas, and petrochemicals sectors. It has also expanded to life sciences and pharmaceutical investments.
ADQ, established in 2018, had total assets worth $225 billion as of June 30. It has shareholdings in more than 25 portfolio companies across seven economic clusters which cover vital sectors of the Abu Dhabi economy.
“While other SWFs in the region combine all mandates under the same umbrella, the Abu Dhabi approach is characterised by several SWFs with different strategies, different mandates,” the report found.
The emirate’s public capital, including assets managed by central banks, pension funds, and family offices, is projected to grow from $2.3 trillion today to an estimated $3.4 trillion by 2030, the SWF Global report revealed.
Besides vast assets, Abu Dhabi's SWFs also employ more than 3,100 professionals, highlighting a role as a hub for both capital and talent, the report said. It is followed by Singapore, Riyadh, Kuala Lumpur and Dubai, each of them with SWFs that have more than 1,000 employees.
Region-wise, Middle East and North Africa SWFs are top globally with nearly $5.3 trillion in capital, followed by Asia ($4.2 trillion), Europe ($2 trillion), Oceania ($450 billion) and North America ($350 billion).
SWF-managed capital is “shifting and expanding in certain cities in the world”, said Diego Lopez, founder and managing director of Global SWF.
“The world ranking confirms the concentration of sovereign wealth funds in a select number of cities, underscoring the significance of these financial hubs on the global stage.”
Mohammed bin Zayed Majlis
KILLING OF QASSEM SULEIMANI
UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
Greatest Royal Rumble results
John Cena pinned Triple H in a singles match
Cedric Alexander retained the WWE Cruiserweight title against Kalisto
Matt Hardy and Bray Wyatt win the Raw Tag Team titles against Cesaro and Sheamus
Jeff Hardy retained the United States title against Jinder Mahal
Bludgeon Brothers retain the SmackDown Tag Team titles against the Usos
Seth Rollins retains the Intercontinental title against The Miz, Finn Balor and Samoa Joe
AJ Styles remains WWE World Heavyweight champion after he and Shinsuke Nakamura are both counted out
The Undertaker beats Rusev in a casket match
Brock Lesnar retains the WWE Universal title against Roman Reigns in a steel cage match
Braun Strowman won the 50-man Royal Rumble by eliminating Big Cass last
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
Mohammed bin Zayed Majlis
The Written World: How Literature Shaped History
Martin Puchner
Granta
Dr Afridi's warning signs of digital addiction
Spending an excessive amount of time on the phone.
Neglecting personal, social, or academic responsibilities.
Losing interest in other activities or hobbies that were once enjoyed.
Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.
Experiencing sleep disturbances or changes in sleep patterns.
What are the guidelines?
Under 18 months: Avoid screen time altogether, except for video chatting with family.
Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.
Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.
Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.
Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.
Source: American Paediatric Association
Company Fact Box
Company name/date started: Abwaab Technologies / September 2019
Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO
Based: Amman, Jordan
Sector: Education Technology
Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed
Stage: early-stage startup
Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.
Baby Driver
Director: Edgar Wright
Starring: Ansel Elgort, Kevin Spacey, Jamie Foxx, Lily James
Three and a half stars
Cricket World Cup League 2
UAE squad
Rahul Chopra (captain), Aayan Afzal Khan, Ali Naseer, Aryansh Sharma, Basil Hameed, Dhruv Parashar, Junaid Siddique, Muhammad Farooq, Muhammad Jawadullah, Muhammad Waseem, Omid Rahman, Rahul Bhatia, Tanish Suri, Vishnu Sukumaran, Vriitya Aravind
Fixtures
Friday, November 1 – Oman v UAE
Sunday, November 3 – UAE v Netherlands
Thursday, November 7 – UAE v Oman
Saturday, November 9 – Netherlands v UAE
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
Getting%20there
%3Cp%3EGiven%20its%20remote%20location%2C%20getting%20to%20Borneo%20can%20feel%20daunting%20even%20for%20the%20most%20seasoned%20traveller.%20But%20you%20can%20fly%20directly%20from%20Kuala%20Lumpur%20to%20Sandakan%20and%20Sepilok%20is%20only%20half%20an%20hour%20away%20by%20taxi.%20Sandakan%20has%20plenty%20of%20accommodation%20options%2C%20while%20Sepilok%20has%20a%20few%20nature%20lodges%20close%20to%20the%20main%20attractions.%3C%2Fp%3E%0A
Six large-scale objects on show
- Concrete wall and windows from the now demolished Robin Hood Gardens housing estate in Poplar
- The 17th Century Agra Colonnade, from the bathhouse of the fort of Agra in India
- A stagecloth for The Ballet Russes that is 10m high – the largest Picasso in the world
- Frank Lloyd Wright’s 1930s Kaufmann Office
- A full-scale Frankfurt Kitchen designed by Margarete Schütte-Lihotzky, which transformed kitchen design in the 20th century
- Torrijos Palace dome
The five pillars of Islam
UAE currency: the story behind the money in your pockets
The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
Meydan racecard:
6.30pm: Al Maktoum Challenge Round 2 (PA) Group 1 | US$75,000 (Dirt) | 2,200 metres
7.05pm: UAE 1000 Guineas (TB) Listed | $250,000 (D) | 1,600m
7.40pm: Meydan Classic Trial (TB) Conditions | $100,000 (Turf) | 1,400m
8.15pm: Al Shindagha Sprint (TB) Group 3 | $200,000 (D) | 1,200m
8.50pm: Handicap (TB) | $175,000 (D) | 1,600m
9.25pm: Handicap (TB) | $175,000 (T) | 2,000m
10pm: Handicap (TB) | $135,000 (T) | 1,600m
The specs: 2018 Mercedes-AMG C63 S Cabriolet
Price, base: Dh429,090
Engine 4.0-litre twin-turbo V8
Transmission Seven-speed automatic
Power 510hp @ 5,500rpm
Torque 700Nm @ 1,750rpm
Fuel economy, combined 9.2L / 100km
Killing of Qassem Suleimani
