Aventicum Capital Management Qatar (ACMQ), the asset manager jointly established by Credit Suisse and the Qatar Investment Authority (QIA), has acquired selected funds and mandates from Qatar-based asset manager, Amwal.
The deal, for which the financial terms were not disclosed, will see ACMQ manage investment funds in both equities and fixed income, as well active and passive strategies and both conventional and sharia-compliant products.
In addition, ACMQ will also take over the ownership of a Doha Bank-sponsored QE index ETF.
All of the acquired funds will be made available to local, regional and international investors as the asset manager looks to expand the geographical reach of its client base and bolster its emerging markets’ portfolio.
“We are looking forward to working with the Amwal team and integrating these funds into our platform, allowing us to continue building long-lasting relationships across regions,” said Aladdin Hangari, chairman of ACM.
“The transfer of Amwal’s funds to Aventicum’s institutional platform is an important step in strengthening Aventicum’s presence in Qatar as one of the top investment management players,” added Fahmi Alghussein, ACM chief executive and former Amwal CEO.
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