• Private Investments business reports net loss of AED 6 million as a result of unrealised revaluation losses on certain portfolio assets

  • Waha Land records net profit of AED 21 million from rental income

Abu Dhabi: – Waha Capital PJSC (“Waha Capital” or “the Company”), an Abu Dhabi-listed investment management company (ADX: WAHA), reported net profit of AED 407 million for the first nine months of 2023, a 57% year-on-year increase, as its public funds outperformed their respective benchmarks and attracted significant inward investment.

The company recorded total operating income of AED 679 million in the nine-month period, an increase of 54% from AED 441 million a year earlier. The solid income growth was driven by the strong performance of Waha Investment, a wholly-owned asset management subsidiary, as its emerging markets funds continued to deliver attractive returns and increase fee income.

For the third quarter, Waha Capital reported net profit of AED 89 million, compared to AED 160 million a year earlier. Quarterly operating income was AED 179 million, compared to AED 217 million in the third quarter of 2022, reflecting volatility in global credit and equity markets driven by heightened macroeconomic uncertainty.

Meanwhile, the company continued to prudently manage costs, with third-quarter operating expenses remaining steady year-on-year at AED 58 million. Finance costs increased in line with higher benchmark interest rates.

Waha Capital’s total assets under management stood at AED 9.8 billion as of 30 September 2023, compared to AED 6.5 billion a year earlier.

The flagship Waha MENA Equity Fund ranked within the top 10 of Global Investment Report’s list of the world’s top 50 hedge funds. It was the only hedge fund managed in the MENA region included on the list, the fifth consecutive year it has been featured.

Read the full report here.

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About Waha Capital

Waha Capital is an Abu Dhabi-listed investment management company that leverages its emerging markets expertise, business networks and research capabilities to deliver attractive returns to shareholders and investors in its funds.

Founded in 1997, Waha Capital is one of the Emirate’s leading private sector investment houses, providing a world-class platform for investment and growth. The company has a long-established track record of investing in public and private markets, deploying proprietary capital in alignment with third-party investors.

The Public Markets business (operated by Waha Investment PrJSC, a wholly owned subsidiary) offers sophisticated investors actively managed emerging markets credit and equities funds, via a disciplined approach to investment and implementing distinctive strategies to deliver consistent market-leading returns.

The Private Investments business pursues a multi-asset investment approach focused on direct investments, with the flexibility to deploy capital across diverse sectors and geographies. The business leverages extensive international business networks to source deals and form co-investment partnerships.

Counting Mubadala Investment Company as an anchor shareholder, Waha Capital is at the forefront of Abu Dhabi’s increasingly dynamic and entrepreneurial ecosystem, creating long-term value for shareholders, fund investors, employees, and communities. 

Further Information for Media and Investors

For further information on Waha Capital and its investment capabilities, please visit wahacapital.com

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