Abu Dhabi’s Waha Capital navigates some smooth returns in ‘21

Abu Dhabi’s Waha Capital navigates some smooth returns in ‘21

Waha Capital, an Abu Dhabi-listed investment company, leverages its emerging markets expertise, business networks, and research capabilities to deliver attractive returns on its funds. Its market cap is Dh3.17 billion. With solid returns from its emerging markets’ credit and equity fund businesses, the firm posted a 69 per cent increase in profit in 2021, while the owners’ share of profits jumped to Dh391 million ($106m). The decision to adopt a turnaround strategy in 2019 vastly improved its performance. While global capital markets experienced increased volatility, all funds managed by the business continued to fare well as per their benchmarks. Therefore, it was still feasible for Waha Capital to perform well despite unstable markets and challenging macroeconomic scenarios. Having built on the past year’s success, the company is well-positioned to generate long-term, sustainable value for its shareholders. In 2021, Waha recorded investment gains and fee income of Dh902 million for its publicly traded markets business, which managed $1.2 billion in assets. As a result, net profit rose 88 per cent year-on-year to Dh603 million. In addition, Waha Land, the real estate subsidiary, owns an integrated mixed-use development with 95 per cent occupancy in 2021. As a result, the unit’s net profit