Qatar Investment Authority (QIA) and U.K.-based Ashmore Group have joined forces to establish a $200 million fund with the goal of attracting foreign investors to Qatar’s stock market. The Ashmore Qatar Equity Fund, launched through a press statement, involves QIA as the anchor investor by reallocating shares in listed companies within the country. This initiative is part of QIA’s Active Asset Management Initiative, and Ashmore Group is its inaugural partner. QIA stated that collaborating with esteemed asset managers like Ashmore is expected to stimulate investments in critical economic projects, foster wealth creation, improve the overall economic landscape, and enhance liquidity on the Qatar Stock Exchange.
QIA, founded in 2005 to safeguard and expand Qatar’s financial assets while promoting economic diversification, expressed its commitment to bolstering and developing the local economy through various initiatives aimed at enhancing market liquidity, improving price discovery, and diversifying Qatar’s capital markets. The sovereign wealth firm highlighted that this particular initiative will provide foreign and local investors with exposure to the country’s economy as well as access to Ashmore’s investment expertise.
As of July 2023, the Sovereign Wealth Fund Institute estimated that QIA manages approximately $475 billion in acquisitions.
"It is not time to exit it, by all means"
Canary Wharf wins the backing of Qatar’s $450 billion sovereign wealth fund, as its CEO Mansoor Al Mahmoud tells Bloomberg that they remain committed to London's dockland finance district https://t.co/0ZecKFU09e pic.twitter.com/mLDsSxYU3e
— Bloomberg TV (@BloombergTV) January 15, 2024
Enterprise software, digitalization, and AI integration
QIA CEO Mansoor bin Ebrahim Al-Mahmoud stated on January 15 that the fund will prioritize the technology and healthcare sectors in 2024. In an interview with Bloomberg TV, Al-Mahmoud emphasized QIA’s interest in enterprise software, digitalization, and companies that integrate artificial intelligence (AI) into their business models. He also mentioned that QIA anticipates the global healthcare sector to benefit from the efficiencies enabled by AI technologies and increased government spending to support aging populations.
Al-Mahmoud noted that the United States remains QIA’s primary investment market, but he also sees attractive opportunities in Japan and Europe due to favorable valuations. He stated that QIA maintains a long-term strategy and a solid asset allocation, and intends to stay on the same trajectory. The CEO further highlighted that 2024 is expected to bring clarity to the fight against inflation, and QIA will continue to closely monitor global developments and actions taken by central governments regarding interest rates.
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