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Tuesday, 24 November 2009 17:09 UAE time

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Qatar looks to lure New York investors

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Nine Qatari companies showcased their wares in New York on Tuesday, hoping to pique the investment interest of the world’s largest capital market, according to event organisers and international investment bank, HSBC.

The companies, listed on the Doha Securities Market include Industries Qatar, Qatar National Bank, Gulf International Services, Al Khaliji Bank and Qatar Islamic Bank, among others.

“More than 50 investors have signed up to meet the companies, representing hundreds of billions of assets under management,” said Paul Cooper, head of emerging market equities for HSBC.

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“Investor interest in the visit is strong,” he said.

Qatar boasts the second-best performing GCC index of the year, up approximately 23% since January 1 to Monday’s close.

RELATED: Qatar continues to lead Gulf markets

The investment road show hopes to lure allocations from institutional investors and fund managers to broaden the capital base of Qatar’s market and pave the way for the participating company’s future expansion plans.

“New York is the gateway to the world’s largest capital market, and the world’s largest investor population,” Cooper said.

“In today’s environment, the Gulf in general and Qatar in particular have a powerful story to tell to international investors," he continued. "We are here to tell that story in detail, and to explain the Qatar advantage to the American institutional investor community.”

The keynote address was delivered by HSBC Qatar’s head of investment banking, Kapil Chadda.

“Qatar represents one of the most compelling emerging markets stories in the Middle East over the next few years, with fundamental annual growth predicted in excess of 10%,” Chadda told investors at the event.

“This [event] gives emerging markets investors a good opportunity to get close to some of the key players from Qatar,” he said.

Qatar’s main benchmark closed on a multi-year high of on 12,089.47 on Monday, up 0.41% for the day.

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