Qatar Investment Authority (QIA) has invested in the Lesha Qatar Equity Fund, managed by Qatar-based Shari'a-compliant investment bank Lesha Bank.
The investment expands QIA's Active Asset Management Initiative and makes Lesha Bank the first local asset manager to participate in the programme.
The Lesha Qatar Equity Fund seeks capital growth and income through a diversified portfolio of shares included in the QE Al Rayan Islamic Index or constituents of the QE All Share Index, in accordance with Shari'a guidelines.
QIA launched its Active Asset Management Initiative in 2024 to establish partnerships with global and local asset managers with GCC expertise. Under the initiative, QIA seeds funds managed by participating firms by reallocating shares in companies listed on the Qatar Stock Exchange.
Lesha Bank, founded in 2008, manages approximately QAR 19.2 billion in assets under management.
QIA said its collaboration with Lesha Bank reflects its efforts to support the development and diversification of Qatar's capital markets and strengthen the country's local financial sector.
Mohammed Saif Al-Sowaidi, CEO of QIA, said: “We are pleased to expand our Active Asset Management Initiative through this investment in Lesha Bank's fund, the first locally managed fund under the initiative.”
He said the partnership reflected QIA's commitment to developing Qatar's financial sector and broadening opportunities for local asset managers.
Mohammed Ismail Al Emadi, Group CEO of Lesha Bank, described QIA's investment in the public equity fund as an endorsement of the bank's investment approach and capabilities.
Lesha Bank is the fourth partner to join QIA's Active Asset Management Initiative. Previous partnerships include QIA investments in funds alongside Franklin Templeton, Ashmore and Fiera Capital.
About Lesha Bank
Lesha Bank is a Shari'a-compliant investment bank authorised by the Qatar Financial Centre Regulatory Authority and listed on the Qatar Stock Exchange.
Its activities include alternative investments, private wealth, asset management and investment banking advisory services.
Based on the announcement of QIA's investment in the Lesha Qatar Equity Fund and information supplied with that announcement.