International Finance
Wealth Management

Mubadala’s assets rise 80% with key sector investments last year

The company’s assets grew to Dh841 bn as a result of Dh70.1 billion investments across new and existing key sectors

UAE-based state fund Mubadala’s assets under management rose 80 percent to Dh841 billion compared to Dh469 billion in 2017.  The company’s 2018 Annual Review  report reflects the company’s robust operational performance and advancements in sectors with significant growth potential. 

The rise in Mubadala’s assets has stemmed from its total investment of Dh70.1 billion last year across various key sectors. Mubadala has been able to deliver stable financial growth despite global macroeconomic turbulence in the fourth quarter last year, the company said in the official press release. It reported that the comprehensive income stood at Dh12.5 billion last year, which increased 21.3 percent from Dh10.3 billion in the previous year. 

The sectors it invested in includes technology, aerospace, commodities, financial services, medtech, pharma and agribusiness. As part of its investment diversification strategy, Mubadala has monetised many of its mature assets locally and abroad for Dh55.4 billion. 

The company invested Dh70.1 billion in both new and existing priority sectors, the press release said. The new sectors comprised pharma, medtech and agribusiness. “Mubadala is operating as a global investor to drive financial returns and strategic value for Abu Dhabi, towards a vision of an internationally-connected and future-focused economic base. The addition of the Abu Dhabi Investment Council was a transformational step, strengthening our position as an international investor across different sectors,” Group Chief Executive Officer and Managing Director, Khaldoon Khalifa Al Mubarak, said. 

Mubadala has continued to invest in capital worldwide. For example, last year the company joined forces with Greece’s New Economy Development Fund (Taneo) to create a Dh1.8 billion co-investment platform to focus on investment opportunities in Greece’ key markets. 

On the basis of the agreement, both parties will individually contribute €200 million to the new co-investment platform. 

Mubadala Chief Financial Officer, Carlos Obeid said that the company’s financial and operational performance last year despite tough market conditions is  attributed to its diversification and steady cash flows.

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