QSE foreign funds inflow hits $1.25bn since upgrade: CEO

Al-Mansoori, along with representatives of listed companies, at the London investors’ forum yesterday.The Qatar Stock Exchange (QSE) has witnessed a net (foreign funds) inflow of $1.25bn and about three-fold jump in average daily turnover ever since it was upgraded by MSCI and Standard and Poor’s-Dow Jones last year.This was highlighted by QSE chief executive Rashid bin Ali al-Mansoori yesterday in London where he addressed international fund managers at the investors’ forum that saw the bourse showcase 15 of its leading listed companies.“Over the past few years, the QSE has achieved significant growth.  Whilst young (only 18 years) it is now a well-established national institution that includes profitable listed companies and offers various investment opportunities for local and international investors wishing to benefit from the success story of Qatar’s economy,” he said at the function, which was also attended by Yousef bin Ali al-Khater, Qatar Ambassador to the UK.The participating Qatari companies — QNB, Doha Bank, Commercial Bank, Masraf Al Rayan, Ooredoo, Industries Qatar, Mesaieed Petrochemical Company, Gulf International Services, Vodafone Qatar, United Development Company, Al Khaliji, Qatar Islamic Bank, Qatar Insurance, Nakilat and Milaha — represent blue-chip investment opportunities in the Qatari market.Al-Khater stressed that the forum contributes to strengthening economic and investment relations between Qatar and the UK, given the fact that Qatar is an important partner for the UK.Highlighting the macro and strategic story of Qatar and the strong investment thesis in Qatar; al-Mansoori said the government continues to invest heavily in the non-hydrocarbon sector despite the recent marked decline in oil prices. In addition to ongoing work on the infrastructure side, Qatar has taken concrete steps to improve access to foreign investors pursuant to the Emiri Decree in 2015, raising the foreign ownership limit in Qatari stocks up to 49%.Abdul Aziz al-Emadi, listing director of the QSE, said the opening day was very “successful” with it witnessing active participation as many international portfolio managers have shown great interest in investing in Qatari corporates listed on the bourse.