The Qatar Investment Authority (Arabic: جهاز قطر للاستثمار) (QIA) is Qatar's sovereign wealth fund, specializing in domestic and foreign investment. It was founded in 2005 to manage the oil and natural gas surpluses by the Government of Qatar. As a result of its stated strategy to minimize risk from Qatar's reliance on energy prices, the fund predominantly invests in international markets (United States, Europe and Asia-Pacific) and within Qatar outside the energy sector.
The QIA wholly controls Qatari Diar, a property investment company.
QIA is estimated to hold in excess of $60 billion of assets, an amount that will significantly increase by 2011 as the state completes its expansion projects to become the world's largest liquefied natural gas exporter with 77 million tons output capacity. The Qatar economy has been one of the most dynamic, where the GDP has risen from $8 billion in 1995 to an estimated GDP of $173 billion.
The chief executive and chairman of the QIA is Sheik Hamad bin Jassem bin Jabr Al Thani. QIA does not publish its holdings to the market. It is not clear if QIA mixes or not personal investments of the royal family members and the funds of the state of the Qatar. Most decisions are made under patronage of Sheikh Hamad bin Jassem bin Jabr Al Thani although QIA claims to be a professionally managed investment fund.
Read more about Qatar Investment Authority: Investments
Famous quotes containing the words investment and/or authority:
“There is something fascinating about science. One gets such wholesale returns of conjecture out of such a trifling investment of fact.”
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)
“The churches ... have lost much of their authority over youth because they have refused to re-examine their religious sanctions and their dogmatic preaching in the light of modern physiology, psychology and sociology.”
—Agnes E. Meyer (1887–1970)