24th Apr 2014 11:29
LONDON (Alliance News) - Qatar Investment Fund PLC Thursday said its net asset value per share rose 15.1% in the first quarter, outperforming the Qatar Exchange Index which rose 12.1%.
At the end of March, QIF had 27 holdings: 18 in Qatar, two in UAE, five in Oman and two in Kuwait.
Holdings outside Qatar represented 6.6% of NAV. The cash position stood at 2.1% of NAV as against 10.6% at the end of the previous quarter.
"The investment adviser believes that near- to long-term growth prospects of the Qatari economy remain compelling, driven by a strong infrastructure pipeline. Spending on projects is expected to reach USD182.35 billion over the next five years, as the country prepares for the 2022 FIFA World Cup," the fund's statement said.
Shares were down 1.9% at USD1.32 Thursday.
By Samuel Agini; [email protected]; @samuelagini
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