The investment fund also said it would triple its capital base by converting debt held by the government into equity, effectively relieving it of interest payment obligations and giving the government more control over the fund. Mubadala has stakes in Advanced Micro Devices Inc and Ferrari, as well as General Electric and private equity firm Carlyle.

“The company recognizes that share price fluctuations will have a positive or negative effect on its periodical reporting of financial performance,” Mubadala said in a statement.

Total assets under management stood at 86.1 billion dirhams at the end of June, compared with 88.5 billion dirhams at the end of 2009.

First-half revenue from operations grew to 8 billion dirhams, an increase of 2.1 billion dirhams from a year earlier, driven by strong performance in aerospace, infrastructure, and oil and gas.

Mubadala is fully-owned by the Abu Dhabi government. Abu Dhabi, capital of the United Arab Emirates is investing heavily in sectors such as industry, tourism, infrastructure and real estate to diversify its economy from oil.

Mubadala’s board approved plans to increase share capital to 15 billion dirhams from 5.5 billion dirhams by converting certain shareholder rights.

“We will be converting some of the government loans into equity and share capital which the board has approved,” Carlos Obeid, CFO of Mubadala told Reuters by phone, adding the process could be completed by this year end.

Mubadala owes the Abu Dhabi government 44 billion dirhams.

Operating income at its oil and gas segment rose 44 percent to 3.6 billion dirhams, while operating income at its aerospace segment rose 20 percent to 2.5 billion dirhams.

While assets in aerospace and infrastructure grew 11 percent and 44 percent respectively, it remained stable in the oil and gas sector.

Along with its international holdings, Mubadala also owns stakes in local firms including UAE telecom operator du and developer Aldar Properties.

In July, Mubadala Aerospace said it expected to seal aircraft component leasing deals worth up to $500 million this year and was eyeing acquisitions in the United States and Asia.