A general view of the Abu Dhabi skyline is seen, Dec. 15, 2009. REUTERS/Ahmed Jadallah
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The Abu Dhabi Investment Authority, one of the world's biggest sovereign wealth funds, said its long-term investment gains fell for a second consecutive year. The fund's 20-year annual rate of return fell to 6.1 percent at the end of 2016, from 6.5 percent a year earlier, and 7.4 percent in 2014, it said in an annual review. Since 2010, the fund has increased its allocation to emerging markets to between 15 percent and 25 percent from 10 percent to 25 percent in the years before, according to the review.The portion of the fund's assets overseen by external managers remained at 60 percent, the fund said, from about 65 percent in 2014 and about 80 percent in 2009 .
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