Dubai Unveils New Investment Fund
The new fund will be chaired by Dubai Deputy Ruler Sheikh Maktoum bin Mohammed.
Dubai has established the Dubai Investment Fund, joining the ranks of state-backed wealth funds in the region that manage close to $4 trillion, according to the state-run news agency WAM.[1]
The fund, set to house assets worth billions, will channel government funds both domestically and internationally.
Emphasizing a focus on stocks, bonds, and securities to attain sustainable returns, the Dubai Investment Fund aims to explore opportunities in local and global financial markets.
The new fund will be chaired by Dubai Deputy Ruler Sheikh Maktoum bin Mohammed.
The fund will hold stakes in privatized entities such as the $33 billion Dubai Electricity and Water Authority (DEWA), toll operator Salik Co., and Dubai Taxi Co., as part of the government's plan to offer stakes in 10 state-owned companies over the past year.
While specific details on the fund's total size are not immediately available, the government's stake in DEWA alone is valued at around $28 billion.