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Mubadala’s comprehensive income hits AED 72bn in 2020

Mubadala’s comprehensive income hits AED 72bn in 2020
Assets under management reached AED 894 billion last year - (Photo Archive)

UAE – Mubasher: The total comprehensive income attributable to the owner of Mubadala Investment Company increased to AED 72 billion in 2020 from AED 53 billion in 2019.

Mubadala has achieved the largest total comprehensive income in its history, attributed to the growth in the company’s public equities portfolio, funds, and assets across various sectors, according to a press release on Thursday.

The company has invested AED 108 billion in multiple areas, including technology, life sciences, and consumer goods.

Assets under Management (AUM) amounted to AED 894 billion in 2020, compared to AED 853 billion in 2019.

A total of 34% of Mubadala’s portfolio is comprised of direct and indirect investments in private equity, with 29% in public markets and 14% in real estate and infrastructure.

The Managing Director and Group CEO, Khaldoon Al Mubarak, said: “We navigated our portfolio through the dramatic macro-economic decline of early 2020, and decided to accelerate the pace of our capital deployment, ending the year with record profit and growth.”

The Group Chief Financial Officer, Carlos Obeid, commented: “In 2020 we took advantage of the historically low-interest rates to lower our cost of borrowing and extend its weighted average life on the back of strong investor demand for our bond issuances.”