Switzerland's national flag flies next to the logo of Swiss bank Credit Suisse at a branch office in Luzern, Switzerland October 19, 2017. Reuters/Arnd Wiegmann
DOHA: Qatar Investment Authority (QIA), the sovereign wealth fund of Qatar, has become the largest investor in Credit Suisse by increasing its stake to 5.21 percent. Credit Suisse, which is a global financial services company, is headquartered in Zurich, Switzerland and has operations in over 50 countries.
“Qatar Investment Authority has become the largest investor in Switzerland’s Credit Suisse, after increasing its stake to 5.21 percent, making it the largest investor in the Swiss bank,” reported QNA yesterday. “This came in a statement issued by Qatar Investment Authority on Saturday,” it added.
Since 2005, QIA has built a major global portfolio that now spans a broad range of asset classes and regions. QIA allocates assets dynamically and flexibly. With this approach, it has established an excellent track record both for identifying long-term opportunities, and for making bold, intelligent investments.
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 is set to play crucial role in boosting tourism sector of Indonesia. Early this month, Qatar and Indonesia signed a memorandum of understanding (MoU) on developing the tourism sector in Indonesia, where QIA will invest $500m to carry out a number of tourism projects in 10 sites chosen by the Indonesian government.
