Tag Archives: SWF

Analysing Abu Dhabi Investment Authority’s Performance

Last year I did a bit of complex analysis, mostly trying to estimate returns, to understand Adia’s 7.5% 30 year internal rate of return (IRR) ending in 2015. This year I will make it easier. Adia’s 2016 30-year IRR was reported as 6.9%. Did Adia perform poorly in 2016? It is difficult to tell as there…

Ipic profitable in 2016

Net profit $200 million for 2016 vs loss of $4.1billion in 2015. Details (notes 14, 17) show a big swing in cost of sales due to a drop in impairment of oil & gas properties from $3 billion in 2015 to $1 million in 2016 (I double checked the b’s and m’s). Digging, I found…

GREs versus the Private Sector in the UAE

Every once in a while I decide to torture myself and rummage through the IMF’s databases looking for interesting research and analysis. When I found a Selected Issues UAE Country Report by the IMF, I thought I’d try my luck. The report, published this month, begins by looking at government-related entities (GREs), which is anything…