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Sovereign Wealth Funds Briefing - Categorized | Financials, Investment

Qatar building $1-bln stake in Bank of America

Posted on 01 November 2013

Qatar’s sovereign wealth fund, one of the world’s most prolific investors, is building a $1-billion holding in Bank of America in hopes of benefiting from the U.S. economic recovery, the Financial Times reported, citing sources close to the plans.
Qatar Holding, the investment arm of Qatar Investment Authority (QIA), began buying BofA shares about two years ago, the newspaper said on its website, citing a person close to the fund. The FT added that Qatar had bought more of the bank’s shares when their price fell to $7-$8 last year…………………………….Full Article: Source


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