SEOUL, Dec 25 (Korea Bizwire) – The Abu Dhabi Investment Authority will invest US$500 million in Korea’s value stocks. According to financial investment sources on December 24, the sovereign wealth fund is currently selecting a consignment management firm for such purposes.
The three mostly likely candidates are Korea Investment Value Asset Management, AssetPlus Investment Management and Shinyoung Asset Management. The actual consignment is likely to be made by the first quarter of next year.
Earlier in June and December last year, the investment authority had consigned $500 million each to Truston Asset Management and Samsung Asset Management for growth stocks and index fund investment.
The Abu Dhabi Investment Authority (ADIA), a sovereign wealth fund owned by Emirate of Abu Dhabi (in United Arab Emirates) estimated to be as much as $500 billion. Its portfolio grows at an annual rate of about 10% compounded, according to latest available data issued by Euromoney.
By Sean Chung (firstname.lastname@example.org)