Qatar’s sovereign wealth fund Qatar Investment Authority (QIA) and UK investment firm Ashmore Group plc have jointly formed a US$200 million equity fund.
The Ashmore Qatar Equity Fund will “give foreign investment capital a route to obtain exposure to Qatar’s fast developing economy and provide Qatari investors with access to Ashmore’s leading equity investment expertise,” QIA says in a statement on January 16.
The partnership with Ashmore is the first under the $475 billion sovereign wealth fund’s active asset management initiative, where it is seeking to team up with foreign and local asset management companies, and seed funds that are managed by these firms.
“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,” QIA says.
