Doha, January 16 (QNA) - Qatar Investment Authority (QIA) announced the establishment of the Active Asset Management Initiative with Ashmore Group plc (Ashmore) as the first partner.

The QIA initiative will establish partnerships both with leading global asset managers with GCC expertise and local asset managers that meet all the investment considerations for a QIA investment. QIA will seed funds managed by these partners by re-allocating shares in Qatar Stock Exchange listed companies.

The first partnership has been announced with Ashmore, the specialist emerging markets asset manager, to establish the Ashmore Qatar Equity Fund.

The daily-dealing public equity mutual fund, available to international and local institutions, will give foreign investment capital a route to obtain exposure to Qatar's fast developing economy and provide Qatari investors with access to Ashmore's leading equity investment expertise.

The Ashmore Qatar Equity Fund has launched with approximately USD 200 million under management and has QIA as an anchor investor.

The collaboration with leading asset managers such as Ashmore is expected to catalyse investments in key economic projects, foster wealth creation, enhance the overall economic landscape, and improve liquidity on the QSE.

QIA is committed to supporting and developing Qatar's local economy and is engaged in a number of initiatives to enhance liquidity in the market, improve price discovery, and diversify Qatar's capital markets. (QNA)