Aussie takes up big sovereign wealth fund role

You may not know his name, but there’s a good chance that a stockpicker who’s just relocated to Abu Dhabi is managing a bigger Australian equities portfolio than most managers here.

Several former colleagues have confirmed that Brad Ware, who got his start as an analyst at Maple-Brown Abbott, was hired late last year by the Abu Dhabi Investment Authority (ADIA) to oversee its Australian equities exposure.

It’s understood he works in the sovereign wealth giant’s implemented equities division, reporting to Robert Mosheshe.

Ware worked for several managers after Maple-Brown Abbott (where he was mentored by co-founder Chris Abbott), including Asia Union Investments, Investors Mutual, Tower Australia, Glebe Asset Management and Griffin Global Investors.

The total funds under management of ADIA is the subject of intense speculation. The Abu Dhabi Government has never revealed the contested number, but has disclosed that 35 per cent of the sovereign wealth fund is invested in developed market equities.

The estimates for ADIA’s size range anywhere from US$675 billion to US$1 trillion. Even accepting the low-ball figure, and assuming an exposure to Australia of 2 per cent of the developed markets portfolio, Ware would be in control of nearly US$5 billion in Australian equities.

Neither Ware nor Mosheshe were available for comment.

 

 

 

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