/ world at present information/ Credit score Suisse and Barclays banks, Rosneft oil firm and mineral buying and selling big Glencore, Tiffany jewellery firm and Paris Saint-Germain soccer staff. What unites all these main world names in enterprise and sports activities? In all of them, the Qatar Funding Fund owns a big share.
The Qatar Funding Authority is a nationwide fund of the State of Qatar that makes a speciality of inner and exterior investments. Since its inception in 2005, the Qatar Funding Authority has amassed $335 billion in property, making the sovereign wealth fund the 14th largest on the earth.
Creation historical past and duties
The predecessor of the Qatar Funding Fund was the Excessive Council for Funding of State Reserves, established in 2000. Its process is to speculate the surplus income from the Qatari economic system. The fund itself was created in 2005 by the Emir of Qatar Hamad bin Khalifa al-Thani (head of state from 1995 to 2013) to redistribute authorities revenues obtained from the sale of oil and fuel so as to diversify the Qatari economic system, enhance its competitiveness and cut back dependence on vitality exports. The strategic objective of the fund is the transformation of Qatar into one of many world’s largest monetary and funding facilities.
Administration
The Qatar Funding Fund is owned by the federal government and stories on to the Supreme Council for Financial and Funding Affairs (the primary authorities physique that makes choices on financial, vitality and funding issues), which is chaired by the Emir of Qatar, Sheikh Tamim bin Hamad al Thani.
The fund is managed by a board of administrators. Its chairman is Sheikh Abdullah bin Hamad bin Khalifa al-Thani.
The fund is headquartered in Doha, the capital of the pure gas-rich emirate.
Exercise
The Qatar Funding Fund is a member of the Worldwide Discussion board of Sovereign Funding Funds and in its actions adhere to the “Santiago Ideas”, adopted in 2008 and defining worldwide requirements for the administration of sovereign wealth funds and for the disclosure of economic data.
Precedence areas of the Fund’s investments are buy of shares of enormous firms, lending, buy of securities, valuable metals, currencies, actual property, and so forth. The principle investments are in nations from Europe, the USA, in addition to in a lot of nations from the Asia-Pacific area. Funds for funding from the fund are allotted by the Supreme Council for Financial and Funding Affairs.
The Qatar Funding Fund is the biggest investor within the nation’s inventory market, owns massive shares of the Nationwide Financial institution of Qatar, the Qatar Airways airline firm has a majority stake within the telecommunications chief Ooredoo QСС, which operates in 12 nations.
Overseas, the fund owns shares of firms akin to Volkswagen (Germany) and Tiffany & Co. (USA), Barclays banks (Nice Britain) and Credit score Suisse (Switzerland). The fund additionally owns shares in Heathrow Airport and Harrods shops in London, Canary Wharf enterprise district within the British capital, and so forth. Holds a big block of the securities of the mineral buying and selling firm Glencore. He additionally purchased the Paris soccer staff Paris Saint-Germain in 2011. The Qatari fund has 14.4% in Hapag Lloyd. Considerations akin to Hochtief, Porsche and Solarworld have expertise with Qatari shareholders. Qatar lately engaged in Turkey. As well as, he purchased shares in “Rosneft”, and within the French concern Lagardere he elevated his shares.
The monetary report of the fund is confidential. Details about his investments turns into identified because of publications within the media about particular transactions.
Doha / Qatar
#world #Qatar #Funding #Fund #banks #automotive #firms #actual #property
