Abu Dhabi wealth fund says long-term gains slow for second year

Abu Dhabi

THE Abu Dhabi Investment Authority, one of the world's biggest sovereign wealth funds, said its long-term gains dropped for a second consecutive year in 2016.

The fund's 20-year annual rate of return fell to 6.1 per cent at the end of 2016, from 6.5 per cent a year earlier, and 7.4 per cent in 2014, it said in an annual review. Over three decades, annual returns slowed to 6.9 per cent from 7.5 per cent.