December 5, 2017 / 7:06 AM / a year ago

Trophy assets such as Volkswagen, Shard, Harrods profitable, Qatar says

DOHA, Dec 5 (Reuters) - Trophy assets held by the Qatar Investment Authority, the country’s sovereign wealth fund, are providing it with great returns, Finance Minister Ali Sherif al-Emadi told a business conference on Tuesday.

He mentioned the QIA’s stake in Volkswagen, London’s Shard skyscraper and the Harrods department store as examples.

The QIA has been using some of its money to support Qatari banks and the economy this year in the wake of sanctions imposed on Doha by other Arab states. This has caused speculation that it could sell some assets to raise cash.

But Emadi said the QIA had been mandated to invest Qatar’s surplus money in long-term assets and would stay engaged in international markets. (Reporting by Hadeel Al Sayegh; Writing by Andrew Torchia)

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