THE INVESTMENT POLICY AND THE LIST OF MAIN INVESTMENTS, IN LINE WITH REGULATORY DISCLOSURE REQUIREMENTS

The majority of the Fund's investments are outside Qatar.

Our portfolio is intended to create long-term value for generations to come. It is therefore not subject to conventional short-term performance measures or tactical portfolio optimisation. Our approach enables us to execute investments in a skilful and timely manner, deploying our flexibility and dynamism to take advantage of long-term market developments and trends.

QIA conducts its investment activities and issue its investment decisions in line with generally accepted sound asset management principles and with an aim of maximizing risk-adjusted financial returns and in a manner consistent with QIA Investment Policy and based solely on economic and financial grounds without any consideration to any political matters.

Each investment decision is considered in the context of the overall Portfolio and not in isolation, as part of the overall investment strategy to incorporate an acceptable level of risk in line with QIA’s Mission and investment objectives.

QIA utilizes its internal investment management capabilities in areas where it has particular expertise and will avail of external investment management resources where appropriate. In the event external managers are utilized, they are selected based on their risk adjusted financial performance and following clear guidelines and procedures.

The permissible asset classes for investment of the QIA Portfolio include but are not limited to the following:

• Listed Equities

• Unlisted Equities

• Real Assets (including but not limited to commodities and precious metals)

• Real Estate

• Credit and Fixed Income Securities

• Cash, Foreign currencies and derivatives

Main assets include Volkswagen, Barclays, Canary Wharf, Harrods, Credit Suisse, Heathrow, Glencore, Tiffany & Co., Total.