Waha Capital posts net profit of Dh231million in 2020

Dubai - Waha Capital’s two flagship funds significantly outperformed industry benchmarks, despite market turbulence as a result of the ongoing pandemic.

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Ashwani Kumar

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The Waha CEEMEA Credit Fund SP achieved a return of 14.9 per cent in 2020, representing 235 per cent growth since launch in 2012. — Wam
The Waha CEEMEA Credit Fund SP achieved a return of 14.9 per cent in 2020, representing 235 per cent growth since launch in 2012. — Wam

Published: Fri 12 Feb 2021, 10:40 PM

Waha Capital, a leading investment company in Abu Dhabi, announced a net profit of Dh231 million in 2020, against a loss of Dh616.3 million reported in 2019. Consolidated operating income amounted to Dh662.2 million, compared to Dh4.8 million the year before.

Waleed Al Mokarrab Al Muhairi, Chairman of Waha Capital, said: “It is a testament to the robustness of Waha Capital’s governance and risk management processes that the company was able to navigate the past year, with all its challenges, so successfully. That we were also able to accomplish a change of leadership so seamlessly in the third quarter says much for the effective overall management of the business. The positive results we saw in 2020 are rooted in the implementation of a turnaround strategy that demonstrated commendable determination and resilience, such as going ahead with a number of ground-breaking investments and launching a new fund.”


Waha Capital’s two flagship funds significantly outperformed industry benchmarks, despite market turbulence as a result of the ongoing pandemic. The Waha CEEMEA Credit Fund SP achieved a return of 14.9 per cent in 2020, representing 235 per cent growth since launch in 2012. Waha MENA Equity Fund SP generated a total return of 14.3 per cent in 2020, achieving a cumulative increase of 226 per cent in value since its inception in 2014.

Ahmed Khalifa Al Mehairi, CEO, Waha Capital added: “The story of our performance in 2020 portrays the success of both verticals of the business – public markets and private investments – in pressing ahead with their strategies for the year despite the high volatility brought about by the pandemic. On the investment side in particular our teams were able to generate excess returns ahead of industry benchmarks while taking advantage of attractive valuations that brought short term gains as well as ones likely to crystallise into longer term value for our investors. Our portfolio of private investments continued to implement turnaround strategies leading to a positive contribution from this business in 2020.” — ashwani@khaleejtimes.com



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