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DUBAI, Oct 10 - Sovereign wealth fund Abu Dhabi Investment Authority said it was optimistic on public equities for 2023 after last year's market rout, driven by high inflation and rising interest rates, weighed on stocks' valuations, making them more attractive.
As of the end of last year ADIA achieved 20-year and 30-year annualised rates of return of 7.1% and 7.0% respectively, compared with 7.3% and 7.3% in 2021, it said in its report, published on Tuesday. ADIA in 2022 increased the allocation range for private equity to 10%-15% of the total portfolio, from 7%-12% in 2021. It also lowered its allocation range for cash to 0%-5% in 2022 from 0%-10% in 2021.
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