Mubadala posts record income for 2020

Arrow upAbu Dhabi sovereign wealth fund, Mubadala, saw its income increase by 35% in 2020 after investing a record amount of capital. Total comprehensive income reached a record AED72 billion (US$19.60 billion), up from $14.44 billion in 2019 while assets under management also increased by 4.8% to $243 billion. Mubadala chief executive, Khaldoon al-Mubarak, attributed the results to the growth of its public equities portfolio and funds as well and the decision to accelerate its capital deployment.

“We navigated our portfolio through the dramatic macro-economic decline of early 2020, and decided to accelerate the pace of our capital deployment, ending the year with record profit and growth,” said Mubarak. The sovereign fund invested $29 billion in 2020, the most in a single year, focusing on sectors like technology and life sciences that have seen greater demand during the pandemic. “Technology and life sciences in particular have been essential to the world over the last year, and we see those sectors bringing greater opportunity for deeper investment,” said Mubarak. Mubadala has continued this focus in 2021. In March it announced plans to make a multibillion dollar investment in clean energy. The sovereign investor also raised $28 billion from asset sales as it exited a number of mature assets, the largest of which was a 39% stake in Austrian chemicals firm, Borealis. ©2021 funds global mena

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