The Qatar Investment Authority (QIA) has made a strategic investment in a shariah-compliant public equity fund managed by Lesha Bank, marking a significant development within its Active Asset Management Initiative.
Although the exact size of the investment remains undisclosed, this move underscores the sovereign wealth fund’s commitment to diversifying its investment portfolio while fostering local partnerships.
QIA Fund Aims to Achieve Growth
The newly established fund aims to achieve capital growth and income by investing in a diversified selection of shares that are part of the QE Al Rayan Islamic Index and other shariah-compliant entities within the QE All Share Index.
This initiative, launched in 2024, is designed to collaborate with both global and local asset managers who possess specialised knowledge of the GCC markets.
As part of the Active Asset Management Initiative, QIA reallocates shares from its own portfolio to seed these partner-managed funds, enhancing the liquidity and performance of the Qatar Stock Exchange.
Lesha Bank
Lesha Bank, established in 2008, positions itself as a prominent shariah-compliant investment institution, currently overseeing approximately QAR 19.2B (c$5.3B) in assets.
The bank has articulated its objective to further expand its asset base as part of its long-term growth strategy.
This partnership makes Lesha Bank the fourth asset manager to engage with QIA in this initiative, joining well-regarded firms such as Franklin Templeton, Ashmore and Fiera Capital.
Collaborations are expected to bolster the investment landscape in Qatar, providing greater opportunities for both local and international investors in the Islamic finance sector.
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