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Business & Finance

Reuters reveals Qatar fund put pandemic bets on distressed debt, high-grade bonds

Reuters revealed how Qatar Investment Authority (QIA) is generating strong returns on a multi-billion dollar bet it made on distressed debt and highly rated bonds at the start of the COVID-19 crisis. QIA, a sovereign wealth fund with assets of $300 billion, owns department store owner Harrods and has stakes in Barclays and prime properties such as Canary Wharf in London. QIA confirmed its moves into both investment-grade bonds and distressed debt in an email. Other Gulf funds also bulked up on riskier assets during the height of the COVID-19 pandemic, with Saudi Arabia’s $400 billion Public Investment Fund investing more than $7 billion in U.S. and global stocks in the first quarter.

Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: FX & Fixed Income
Regions: Middle East
Countries: Saudi Arabia
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
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