QR1b fund launched by Amwal

DOHA — Amwal, Qatar's leading investment company, yesterday announced the launch of its QR 1 billion Qatar Gate Fund (QGF); the first ever fund established in Qatar.

By A Staff Reporter

Published: Sun 21 Aug 2005, 10:37 AM

Last updated: Thu 2 Apr 2015, 4:15 PM

The new investment vehicle will focus primarily on the Doha Securities Market but will consider other GCC markets. The open-ended equity fund is open to Qataris and non-Qataris through two separate sub funds. Class (Q) of QGF is open to Qatari nationals only. Class (N) of the Fund will be open to non-Qataris. Both sub funds have the same investment guidelines, risk parameters and investment manager.

The initial closing is QR 20 million and up to a maximum capital of QR500 million for each fund — a total of QR 1 billion. The Fund's objective is to achieve above average long-term capital growth through investment in Qatari and Gulf securities listed or under listing on the Doha Securities Market and Gulf securities markets with the main focus on the Qatar market.

“The launch of the Qatar Gate Fund is an important step for Amwal. It sees Amwal playing a vital role in allowing investors to participate in the success of the Qatar Economy and it's growth potential. It also marks the company's emergence as one of the most significant players in the region's equity markets, with the financial strength and dynamism to seek out and deliver value. The launch of QGF also reflects our commitment to the development and growth of the mutual funds industry in Qatar and our market-leading role in the sector,” said Sheikha Hanadi Nasser Bin Khaled Al Thani, Vice Chairperson and Managing Director of Amwal.

The fund will focus on the Qatar market in order to reap the benefits of the country's booming economy and capitalise on the potential and promise of its emerging equities market.

“The Fund will seek to invest in a diversified portfolio of Qatari and other GCC securities listed or under listing. QGF represents a unique opportunity for Qataris and non-Qataris to capitalise on local opportunities and pushes back the boundaries as Qatar extends its investment interests into new areas,” Sheikha Hanadi said.”

Amwal's partner in the venture is Shuaa Capital. Shuaa will act as the Fund's investment manager while the HSBC Bank Middle East is the fund custodian. The two institutions have previously cooperated on a number of ventures, including in launching and managing 'Al Mahfatha' Portfolio.

“Expectations for Qatar and the region's other economies are very promising. We are constantly searching for new investment opportunities to meet our customers' financial needs and we believe that with this new Fund we have created the ideal opportunity for them,” said Murad Mahmoud, General Manager of Amwal.

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