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DUBAI, May 11 (Reuters) – Abu Dhabi-based Royal Group Chairman Sheikh Tahnoon bin Zayed Al Nahyan said on Thursday that the firm has identified some “excellent” investment opportunities in the U.S. market and plans to Pursue.
“First, I want to reiterate my firm belief in the stability and potential of the U.S. market,” Sheikh Tahnoon, who rarely talks publicly about investments, said in a statement to Reuters.
“Despite the current volatility, we have identified some excellent investment opportunities that we plan to pursue.”
Sheikh Tanon is one of the most powerful members of the UAE’s ruling Nahyan family and the brother of UAE President Sheikh Mohamed bin Zayed. He is one of two deputy rulers of oil-rich Abu Dhabi and oversees the emirate’s sprawling investment and business portfolio.
Royal Group’s businesses and subsidiaries span multiple industries, including healthcare, real estate and construction, artificial intelligence, technology, hospitality and media, among others.
“I want to make it clear that we do not support or participate in shorting the market,” Sheikh Tahnoon also said, referring to recent market speculation.
“We believe in long-term investing and actively seek out opportunities that create meaningful, lasting impact.”
In March, Sheikh Tahnoon was named chairman of the Abu Dhabi Investment Authority (ADIA), one of the world’s largest sovereign wealth funds, and he also chairs another smaller Abu Dhabi investment fund, ADQ.
ADIA stated in its 2021 review published in October last year that Long-Term Portfolio Strategy Set your exposure to North America at 45% to 60%, Europe at 15% to 30%, and Emerging Markets at 10% to 20%.
Reporting by Hadeel Al Sayegh; Writing by Rachna Uppal; Editing by Chris Rees
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