Doha: Qatar’s top asset managers demanded better corporate disclosures and Investment Relations (IR) engagement for the growth of the country’s capital market. Participating in a panel discussion on “Factors affecting the promotion of Asset Management Industry”, held as part of the 10th Annual IR Conference by QSE on Monday, they said the best practices around transparency requirements is key for making critical investment decisions.
The companies should view minority shareholders as ‘partial owners’ of the company. Partnership will work only if there is trust. The trust in the company leadership, management and the board for a longer period is critical for making investment decisions, Akber Khan, Head of Asset Management, Al Rayan Investment said. “You can’t trust somebody, if they don’t talk to you…. investors will not trust companies if they feel the companies are not taking them seriously”, he added.
Dr Ataf Ahmed, Global Head of Asset Management, QINVEST
In Qatar, there are lot of companies which have dominant shareholders. These companies need to take the minority shareholders into confidence. The IR persons should talk to them and keep engaing with them to help make better investment decisions. In terms of IR and corporate disclosures, Akber added, Ooredoo and QNB are doing fantastic jobs.
Akber said Qatar’s Asset Management Industry has gone a long way in Qatar. “There has been work in progress to make the market efficient and I think next ten years will be certainly very different from now”, he said.
Dr Ataf Ahmed, Global Head of Asset Management, QINVEST said Qatar’s asset management industry had been increasingly looking inward until recently. Things have changed for the past couple of years. Investors are now keen on diversifying udnerlying assets to various geographies. He said transparency in corporate disclosures is key to all investment considerations.
Fahmi Alghussein, CEO, Aventicum Capital Management, Qatar
Talal Samhouri of Aventicum MENA/Frontier Markets noted the industry would benefit from consistent standards and stronger policies around transparency. Working with the world’s most sophisticated investors, Asset managers are committed to enabling greater transparency through continued research and technology development. There are different factors that influence Qatar’s asset management industry.
“Some of them are internal and other are regulators and companies-related. The relevant entities need to realise…. and I am sure they are realising…. the importance of asset management and why they should promote the asset management industry in the country”, he said.
Fahmi Alghussein, CEO, Aventicum Capital Management, Qatar was the moderator.
Earlier, addressing the opening session, of the Annual IR Conference, Rashid bin Ali Al Mansoori, CEO and Board Member of Qatar Stock exchange (QSE) elaborated on QSE’s efforts in spurring the greater acceptance and implementation of IR as a key discipline.
Source from: The Peninsula