ADIA Parts the Curtain... A Tiny Bit

The Abu Dhabi Investment Authority (ADIA), among the largest sovereign funds, released its first annual report today. The report, which confirms information already mediated through the press, comes with a brand new website and some interesting information on the investment strategy and the different sub investment groups. The primary message seems to be to stress the fund’s role as a global citizen - after all the title is “prudent global growth”– to demystify the fund and to reduce strategic concerns foreign investors might have about its investments.  It does seems to be yet another example of the Santiago principles at work. At the beginning of the report, ADIA declares that its internal review deems that it has complied with these voluntary principles. However, the disclosures only go so far.