QInvest profits rise by two thirds

Profits upDoha-based investment group QInvest says its profits in the third quarter rose two-thirds compared with the same period in 2014, while revenues rose by more than a third.

The firm says the quarter was a busy period for its asset management division, which added a fund to its managed account platform. The QInvest Pramerica Liquid Real Estate fund was launched in partnership with US-based Pramerica and invests in sharia-compliant global real estate investment trusts and other property securities.

Funds Global MENA recently learned that QInvest is targeting the Turkish market and plans to begin selling onshore funds in the country in partnership with a Turkish asset management firm.

“Whilst we expect ongoing market volatility and economic challenges to remain present, we are confident on the outlook for the business,” says Tamim Hamad Al-Kawari, chief executive of QInvest.

QInvest, which received its licence from the Qatari regulator in 2007, is involved in investment banking and principle investments as well as asset management. It has a particular focus on sharia-compliant investing.

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