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Amwal, Qatar’s first independent asset management firm
October 12, 2014, 9:45 am
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“Qatar’s first independent asset management firm was established in 1998 to support the development of the financial environment in Qatar. As with every emerging economy, there was a need to provide non-banking financial advice to Qatari investors who wanted to speak to someone on the ground who could help realise their wealth management and asset management needs in line with their objectives,” says Fahmi Alghussein, Chief Executive Officer of AmwalQatar.

In accordance to Alghussein over the past 16 years, Amwalhas evolved into a strong and valued organisation that has consistently offered innovative andindustry leading products to their patrons in Qatar and the region. “Doha is a very important market for us at Amwal, as the population and wealth increases we see a need for us to behere more than ever to provide our clients best in class products and services, to support their growth plans in line with the National Vision 2030.”

He further highlights how Amwalas the first asset management company in Qatar, wanted to lead and support the growing needs of the market and offer innovative products to their clients for maximum results on their investments. “Developing the knowhow and expertise takes time and we spent our initial years strengthening our footprint as responsible citizens. Clubbed with reputation and knowledge, we felt it was the right time for us to trade at QFC, since they have the right legal and regulatory framework for us to be able to broaden our product portfolio, in line with the international standards that our clients are accustomed to such as in UK, Germany and Switzerland,” says Alghussein to The Times Kuwait.

Subsequently, he adds how Amwalholds great pride in their consistency, and how AmwalAsset Management has been studying the economy and growth patterns in detail since 2009. “Our approach is like owners of business, we keep a very low volatility on the funds we manage on behalf of our clients, and this has allowed us to have the best track record for Qatari equities for the last three years.”

In 2013, Amwalwas awarded the Best Fund Manager by EMEA, which they have successful won for the third consecutive year in a row.  In addition, Alghussein explicates to The Times Kuwait the Qatar Gate Fund, which is their flagship fund since 2005, with the aim to achieve long term capital appreciation through investment in publicly traded Qatari equities. “It is a single country fund and we have now partnered with Ahli Bank in Qatar to offer the fund to their clients, expanding its reach and potential. In addition to this, we have also collaborated with Doha Bank as the fund managers of their GCC fund, for clients looking at expanding their footprints in other GCC markets.”

Consequently, he believes that they are in a confident stage at the moment with most regional banks and financial services sector entities having healthier balance sheets after the global financial crisis. “The gulf economies are poised for better growth in line with the plans of the respective governments. Regional financial markets play an important role in the world economy and things seem promising for the future,” concludes Alghussein.

                                                                                                                                                                                              By  Erika Widén
                                                                                                                                                                           TTK  Special Correspondent


 

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