Qatar is betting on US recovery. According to reports from the Financial Times, the sovereign wealth fund of the emirate, for two years now, would be buying shares in Bank of America, the second largest US institution, so much so that it has reached a shareholding of approximately a billion dollars in the bank. The purchases would have been concentrated above all in the period in which the shares of Bank of America, last year, had plunged to 7-8 dollars, against the 14 at which it travels today.
Such exposure by Qatar Holding, the direct investment arm of the Qatar Investment Authority, implies great confidence in the US economy's resilience. The strategy of the emirate, moreover, was quite clear: the sovereign wealth fund, at the height of the crisis, in fact poured tens of billions of dollars into the major world banks, starting today, in some cases, to collect some dividends.
According to sources cited by the Financial Times, Qatar Holding intends increase their investments in the United States, given the signs of economic growth, especially in real estate. The fund has also already acquired 5,2% of Tiffany and is targeting a stake in Morgan Stanley's commodities unit.
Attachments: intl#axzz2jIJSZrcA
