The Qatar Investment Authority (QIA) and UK-based fund manager Ashmore Group have joined forces to launch an investment fund focused on Qatari stocks.
The US$200 million Ashmore Qatar Equity Fund will have the QIA as an anchor investor while Ashmore will act as the fund manager.
According to the QIA, the fund is part of a broader strategy that will see the sovereign wealth fund collaborate with international and local asset managers in order to promote investment in local companies.
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“The collaboration with leading asset managers such as Ashmore is expected to catalyse investments in key economic projects, foster wealth creation, enhance the overall economic landscape, and improve liquidity on the Qatar Stock Exchange,” stated the QIA.
“QIA is committed to supporting and developing Qatar’s local economy and is engaged in a number of initiatives to enhance liquidity in the market, improve price discovery, and diversify Qatar’s capital markets,” continued the statement.
The QIA’s chief executive, Mansoor bin Ebrahim Al-Mahmoud, has recently stated that the tech and healthcare sectors are of interest in 2024.
He told Bloomberg TV that enterprise software, digitalisation and the embedding of artificial intelligence will be investment focuses in the year ahead.