Doha Bank recently signed a new Investment Management Agreement with Aventicum Capital Management (Qatar) to replace the current fund manager of its QE Index Exchange Traded Fund (QETF).
“The new managers bring the right mix of expertise and international experience as we look to expand the product offering to a wider audience of investors. Clients are seeking more income, at a time of low rates and low returns with less risk as ETF assets under management just crossed $5.7tn globally,” Doha Bank CEO Dr R Seetharaman said in a statement.
The QETF was the first listed ETF in Qatar (listing date March 5, 2018) and has already distributed two cash dividends as well as completed a stock split.
The current total assets under management sit at QR353mn.
Aventicum Capital Management (Qatar) is authorised by the Qatar Financial Centre Regulatory Authority licence number 00173.
The change in the fund manager is expected to take effect today as the fund has received all regulatory approvals, Doha Bank said.
