The results are the first since Abu Dhabi Investment Council, an investment arm of the Abu Dhabi government, joined Mubadala last year.

Mubadala's assets under management totalled 841 billion dirhams ($229 billion) in 2018 compared to 469 billion dirhams in 2017, it said in a statement.

Total comprehensive income was 12.5 billion dirhams in 2018, down 21.3% from 10.3 billion dirhams in 2017, it said.