Abu Dhabi Investment Authority has changed the way it invests in Japanese equities, shifting an internally managed allocation to its passive portfolio.
The fund recently reallocated its Japan equities investments to its passive portfolio, a person familiar with the situation said. It had managed equities internally, externally and through indexed or passive funds.
The change saw the sovereign wealth fund close a small, internally managed portfolio and three staff members departed ADIA.
The fund's allocation to Japanese equities, which the person said has not changed as a result of the reallocation, could not be learned. ADIA has an estimated $579 billion in assets, according to Fitch Ratings.
A spokesman for ADIA confirmed that the fund has changed the way it invests in Japan but declined to comment further.