Qatar's Super-Rich Invest a Minimum $1m in Fancy Color Diamond Fund
May 25, 22
(IDEX Online) - Wealthy investors in Qatar are rushing to put their money into rare and extremely valuable fancy color diamonds. The minimum investment is $1m.
The Amma Group, jointly founded in 2008 by jewelry veterans Mahyar Makhzani and Philip Baldwin (pictured), says it is the only fund specializing in color diamond investment.
It is seeking $100m of investment for its fifth fund, Colour Fund V, domiciled in the Dutch Caribbean island of Curacao.
The asset management group has more than a dozen investors from Qatar, according to a Gulf Times report, and interest in its fifth fund had been "immensely positive".
Amma offers a three-year exit route for investors. It says it "provides investors direct 'pure play' exposure to actual coloured diamonds, rubies and sapphires, without the corporate or operating risk associated with owning a mining company or a large mining conglomerate with limited diamond, ruby or sapphire exposure."