We're not that rich!

Sheikh Khalifa bin Zayed al-Nahyan, president of the United Arab Emirates, has downplayed the size of Abu Dhabi’s sovereign wealth fund, saying that estimates that it has assets of around $800bn are exaggerated.

The Abu Dhabi Investment Authority (Adia) – of which Sheikh Khalifa is chairman of the board – is often described as the world’s largest sovereign wealth fund, with estimates of its size ranging from $450bn to $800bn-plus. The secretive fund has never revealed its size, which has added to the speculation, but pressure has been mounting on sovereign investment vehicles to be more transparent.

Lend us a fiver will ya?

Abu Dhabi downplays size of wealth fund

Source: GrapeShisha