Wed 11-05-2022 10:20 AM
ABU DHABI, 11th May, 2022 (WAM) — Waha Capital has reported a 32% year-on-year increase in first quarter net profit, driven by robust returns from its Public Markets business and the strong performance of its Waha MENA Equity Fund.
The company recorded a net profit of AED147 million in the first three months of 2022, compared to AED111 million in the same period in 2021.
The Public Markets business, which manages emerging markets credit and equity funds, reported investment gains and fee income of AED224 million in the three-month period. Meanwhile, Private Investments recorded positive net income, primarily due to mark-to-market gains on investments. Finally, Waha Land continued to generate steady income from its light industrial real estate assets.
Total Assets under management (AUM) grew 8% quarter-on-quarter to reach AED6.3 billion.