(MENAFN- The Peninsula) By Sachin Kumar / The Peninsula
Qatar Investment Authority (QIA), the sovereign wealth fund of Qatar, is among the biggest 10 sovereign wealth funds in the world. The fund, with over $320bn assets as of September 2017, is at the ninth position in the ‘Sovereign Wealth Fund Rankings' by the Sovereign Wealth Fund Institute.
Norway's ‘Government Pension Fund-Global' with $954.07bn assets is the world largest sovereign wealth fund. It had become the first sovereign wealth fund to reach the $1trillion milestone last month.
Qatar, where the citizens have the highest per capita income in the world, is the largest exporter of liquefied natural gas (LNG) in the world.
A sovereign wealth fund is a state-owned investment fund that invests in real and financial assets such as stocks, bonds, real estate, precious metals, or in alternative investments such as private equity fund or hedge funds.
QIA aims to diversify a portfolio which is concentrated in Europe. Building on the nearly $26bn invested in the US since 2015, QIA has committed to investing another $10bn and expanding the portfolio to include infrastructure projects, Sheikh Abdulla bin Mohammed Al Thani, CEO of QIA had said in July this year during his US visit.
Since 2005, QIA has built a major global portfolio that now spans a broad range of asset classes and regions.
Sheikh Abdulla had also announced that QIA will open an office in San Francisco to bring their team closer to biotech and tech investments in the Silicon Valley area.
According to the Sovereign Wealth Fund Institute, of total assets held by Sovereign Wealth Fund around the world, $4.2 trillion's worth were held by oil and gas-related funds. As of September 2017, sovereign wealth funds around the world had amassed $7.4 trillion in assets under management, up from $3.4 trillion almost a decade ago, according to the Institute. Since 2005, at least 40 sovereign wealth funds have been created.
The US based Sovereign Wealth Fund Institute is a global corporation analysing public asset owners such as sovereign wealth funds and other long-term governmental investors.
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