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Qatar cuts dollar exposure
- Qatar: Wednesday, October 03 - 2007 at 10:46
Qatar's $50bn sovereign wealth fund has trimmed its exposure to the dollar to around 40% of its portfolio, down from 99% two years ago, reported Reuters. About 40% of the Qatar Investment Authority's portfolio was invested in euros and another 20% in currencies including sterling. Prime Minister Sheikh Hamad bin Jassim bin Jabr al-Thani said the fund is diversifying because all of its oil and gas income is in dollars, so we 'need some other windows.'
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Jeff Florian, Senior ReporterWednesday, October 03 - 2007 at 10:46 UAE local time (GMT+4)
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