Doha-based Aventicum Capital Management has agreed to purchase the management of certain funds and mandates from asset management firm Amwal. Aventicum is a joint venture between Swiss bank Credit Suisse and Qatar Investment Authority.
The deal is in the form of a contingent convertible bonds. These bonds are convertible into equity in the event of a crisis.
Under the terms of the agreement, Aventicum will buy Amwal’s managed investment funds in equities and fixed income across active and passive strategies. The move represents Aventicum’s efforts to bolster its presence in Qatar.
The funds comprise stock and bond investments in both conventional and Shariah-compliant products. These products will be available to local, regional, and international investors. This will also allow Aventicum to expand its clientele base.
Aladdin Hangari, chairman of Aventicum Capital Management (Qatar), told the media: “The expansion will help to accelerate our growth and strengthen Aventicum’s product offering in line with our strategy in Emerging Markets. We are looking forward to working with the Amwal team and integrating these funds into our platform, allowing us to continue building long-lasting relationships across regions.”
That said, Aventicum also acquired management of the QE Index Exchange Traded Fund from Doha Bank. Founded in 2012, Aventicum is a global asset management business focused on special investment strategies. The deal is also beneficial to Credit Suisse and the Qatari investors, according to several media reports.
In fact, the deal strengthens the relationship between Credit Suisse and Qatar Investment Fund. The Qatar Investment Fund currently holds 5.21 percent stake in Credit Suisse.