Aventicum Capital Management, a joint venture (JV) between Credit Suisse and the Qatar Investment Authority (QIA), has assumed the management of certain funds and mandates from Qatar-based asset management firm Amwal.
Under the agreement, the JV would take over the management of managed investment funds of Amwal in equities and fixed income across active and passive strategies.
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The strategies, which cover conventional and sharia-compliant offerings, can be accessed by local, regional and international investors.
Aventicum also assumed management of the QE Index Exchange Traded Fund from Doha Bank.
Doha Bank CEO R Seetharaman said: “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.”
QIA is the country’s sovereign wealth fund. Its relationship with Credit Suisse dates back to the financial crisis.
During the meltdown, the wealth fund infused billions into the bank in order to prevent the latter’s bailout.
The deal was structured as contingent convertible bonds (CoCos) that have the ability to convert into equity in case the bank’s tier 1 capital dips below a certain level.
