The state-owned fund having stakes in General Electric and private equity firm Carlyle, blamed that volatile global markets had led to the decline in the value of its financial investments and real estate portfolio.
Mubadala chief executive and managing directorKhaldoon al Mubarak said, "While our financial investments’ performance was impacted by the volatility in the global market place during 2011, we continue to maintain a long-term financial investment perspective."
Mubadala suistained a loss of AED3.03bn ($824.89m) from its financial investments compared to a profit of AED355m ($96.64m) previous year.
During the fiscal 2011, Mubadala revenues rose by 77% to AED27.9bn ($7.59bn) against AED15.8bn ($4.3bn) mainly due to high energy prices last year and consolidation of its semi-conductor unit Advanced Technology Investment Company (ATIC).
According to the 2011 financial statement of the firm, its total assets also surged by 73% to AED177bn ($48.19bn) in 2011.
