LONDON (Alliance News) - Qatar Investment Fund PLC on Wednesday said its net asset value per share fell 4.6% during the first nine months of 2015, while the Qatar Exchange index fell 6.6%.
The company, which is concerned primarily with investing in Qatari equities, said the Qatari economy continues to diversify and grow, with GDP expected to grow 4.7% in 2015 and 6.4% in 2016 and 2017. The fund invests also in the broader Gulf region.
It said the non-hydrocarbon sector grew by 9.1% while hydrocarbon sector was flat, expanding by 0.9% in the second quarter of 2015.
Meanwhile, profits of Qatari listed companies were up 12.5% in the first half of 2015, the fund said.
It said the private sector led credit growth of 9.9% between December 2014 and August 2015.
The fund said that the Qatari economy is "well positioned to weather lower oil prices, as macroeconomic fundamentals remain strong".
The Government of Qatar retains a 13.5% shareholding in the company.
Shares in the fund were down 1.5% at USD1.28 on Wednesday morning.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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