(Yicai) Nov. 8 -- The Abu Dhabi Investment Authority, the Middle East’s biggest sovereign wealth fund, was a net buyer of shares in Chinese mainland-listed firms in the third quarter.

In the three months ended Sept. 30, the ADIA increased its holdings of A-shares, those listed on mainland stock exchanges, by 30 percent from a year ago, owning 537 million in 24 firms worth a total of CNY9.5 billion (USD1.3 billion). Its biggest holdings included Zijin Mining Group, Bank of China, and Tonghua Dongbao Pharmaceutical.

Qualified foreign institutional investors owned shares in 1,058 publicly traded companies in the mainland at the end of the third quarter, based on the top 10 shareholders listed in their nine-month corporate financial statements. The companies had a combined market capitalization of more than CNY140 billion (USD19.2 billion). 

The ADIA had a distinct preference for Longyan-based Zijin Mining. After acquiring 150 million of the gold miner’s shares in the second quarter, the fund continued to invest in the company in the third quarter, adding 3 million shares, making it the eighth-largest shareholder.

The ADIA and Kuwait Investment Authority, the second-largest sovereign wealth fund in the Middle East, own stakes in Chinese mainland-listed businesses in intelligent manufacturing, energy, and biomedicine. The KIA was a net seller in the third quarter.

The KIA had holdings in 26 mainland-listed companies at the end of September, down from 37 at the end of June. The number of shares it held fell to 248 million from 313 million, while their combined value fell to around CNY6.4 billion (USD876.3 million) from CNY6.7 billion. 

The KIA sold stock in gold miner Zhongjin Gold, game developer Kingnet Network, home appliances maker Hisense Group, among others.

Editor: Martin Kadiev