The Qatar Investment Authority (QIA) is said to be planning a wide-ranging overhaul of its estimated $304 billion portfolio, according to a report.
The QIA will set out target asset allocation levels for the first time and restructure its decision-making processes, Reuters reported, citing several anonymous sources.
An update to the sovereign wealth fund’s website introduced a link labelled “QIA Review—Coming Soon”, but no more information has been made available.
The fund is already reviewing some of its mining assets, Reuters’ sources said. One banker working with the QIA said “it makes much more sense to take a more institutionalized approach” as the fund grows in size.
In November, the fund’s then-CEO Ahmad Al-Sayed announced plans for a $10 billion investment fund aimed at Asia in a 50/50 venture with Chinese conglomerate CITIC Group. Al Sayed said the QIA planned to invest as much as $15 billion to $20 billion in the next five years in infrastructure, health care, and real estate across Asia.
Al Sayed was replaced as CEO in December by Sheikh Abdullah bin Mohamed bin Saud al-Thani, a member of the Qatari royal family.
Another banker source told Reuters that there appeared to be “a greater ethos of valuing all opinions” at the QIA “which makes people feel they are bringing their value added to the fund.”
The QIA is secretive even by SWF standards, having been rated as “non-compliant” with the Santiago Principles for transparency among sovereign pools in October last year—the only fund of 31 to be given this rating. Consultancy firm GeoEconomica, which produced the ratings, said the QIA “has yet to take any meaningful steps to meet some of the principles’ basic disclosure standards.”
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