Posted By Global Banking and Finance Review
Posted on May 21, 2025
DOHA (Reuters) -British asset manager Ashmore Group has opened an office in Qatar to advise on investment opportunities and build relationships with domestic investors in the wealthy Gulf state, it said on Wednesday.
The office will also provide input on the $200 million Ashmore Qatar Equity Fund (AQEF), which was set up in 2024 with the Qatar Investment Authority (QIA), the state's $500 billion sovereign wealth fund, by re-allocating shares in listed Qatari companies.
The QIA's broader asset management initiative aims to establish partnerships with global asset managers which have a Gulf focus, like Ashmore, and local asset managers which meet the considerations for a QIA investment.
"Since inception to end April 2025, AQEF has delivered a cumulative gross USD return of 18.5% and has outperformed its benchmark index by 345 basis points," Ashmore said in a statement.
Qatar is one of the world's top exporters of liquefied natural gas. Like other Gulf oil and gas exporters, it is trying to diversify its economy away from hydrocarbons, and attract increased foreign investment.
(Reporting by Andrew Mills; Editing by Jamie Freed and Rachna Uppal)