The $650 billion Abu Dhabi Investment Authority is seeking to invest more in emerging markets to get higher returns than from its European and U.S. assets, a senior executive of banking group HSBC said on Sunday.
The world's largest sovereign wealth fund has traditionally invested in U.S. Treasuries and other fixed-income assets.
It has discussed emerging market investments with HSBC, according to Youssef Nasr, the bank's chief executive officer in the Middle East.
"The returns that you get in either the United States or Europe are not going to be as high as you get in emerging markets," Nasr said at an investment conference organized by the London-based Middle East Economic Digest.
"They are asking for some more help as far as these emerging markets are concerned," he said....MORE