Filmyard Holdings

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Welcome to the Investors Trading Academy talking glossary of financial terms and events. Our word of the day is “Qatar Investment Authority” The Qatar Investment Authority also known as QIA is a government-owned entity responsible for managing the sovereign wealth fund of Qatar. The source of the sovereign wealth fund is primarily excess oil and gas revenues from the development of Qatar's oil and gas reserves. The Qatar Investment Authority was established in 2005. The QIA is governed by a board of directors. Qatar's State Audit Bureau is responsible for auditing the financial operations of the QIA. The QIA does not have any mandated limitations on its investment universe and is able to invest in both domestic and foreign marketable securities, real property, alternative assets and private equity funds. QIA is estimated to hold in excess of $170 billion of assets an amount that is expected to significantly increase as the state completes its expansion projects to become the world's largest liquefied natural gas exporter with 77 million tons output capacity. The QIA does not publish its holdings to the market. It is not clear if QIA mixes or not personal investments of the royal family members and the funds of the state of the Qatar. In May 2010, Qatar Holding, an indirect subsidiary of QIA, purchased the Harrods Group from Mohamed Al-Fayed, including the Knightsbridge department store. QIA are also the largest shareholder in Sainsbury's. Also in 2010, Qatar Investment Authority, along with Colony Capital was part of an investment group known as Filmyard Holdings, which purchased Miramax from Disney. In February 2012, it completed the acquisition of Credit Suisse's headquarters in London. QIA holds a 6% stake in Credit Suisse.