The Ashmore Qatari Equity Fund was established with a value of $200 million in cooperation with the Qatar Investment Authority as a major investor through the reallocation of shares in Qatari companies listed on the stock exchange.
The Qatar Investment Authority said in a statement that the fund will give foreign and local investors the opportunity to explore the economy of the Gulf state and obtain Ashmore’s investment expertise.
He added that, as part of a broader initiative, he will establish partnerships with major global asset managers who focus on the Gulf countries as well as local asset managers who meet all requirements to invest with the agency.
Qatar, the world's largest exporter of liquefied natural gas, is seeking to diversify its economy away from gas while attracting foreign investment.
Qatar did not witness the IPO boom that swept Saudi Arabia and the UAE last year, and market insiders attribute the lack of deals in Qatar to the impact of the Covid-19 pandemic and its focus on organizing the 2022 World Cup.
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