Dubai: The UAE's Mubadala Development Company has retained its position among the world's top eight most transparent sovereign wealth funds according to the Linaburg-Maduell Index, the only one of its kind.
Ranked from zero to 10, Mubadala has retained its score of 10 in the first quarter of this year on the index, which was developed at the US-based Sovereign Wealth Fund Institute by Carl Linaburg and Michael Maduell.
Mubadala, owned by the Government of Abu Dhabi, does not consider itself a sovereign wealth fund. It manages long-term capital-intensive investments. It has a multi-billion-dollar regional and international portfolio ranging from services to infrastructure to aerospace.
It helps to deliver some of Abu Dhabi's most high profile and strategically important projects.
"Mubadala has adapted well to our expanding size and profile, introducing a range of policies to ensure our operations maintain their efficiency and transparency," CEO and Managing Director Khaldoon Khalifa Al Mubarak said in a foreword to the annual report for 2009.
Mubadala is joined by global investment management organisations such as Singapore's Temasek Holdings in the "perfect 10" of transparent SWFs.
Among other sovereign funds, Bahrain's Mumtalakat Holding Company scores eight, the Kuwait Investment Authority scores six and Qatar Investment Authority five. Saudi Arabia's Sama Foreign Holdings and Public Investment Fund both score four, as does the Abu Dhabi Investment Authority and the Investment Corporation of Dubai.
