The Amma Group, dubbed as an “alternative investment fund for coloured diamond & precious stones”, is saying that wealthy investors in Qatar “are rushing to put their money into rare and extremely valuable fancy color diamonds” with a minimum investment of $1 million, according to IDEX Online.
Founded in 2008 by jewelry veterans Mahyar Makhzani and Philip Baldwin, Amma “is seeking $100m of investment for its fifth fund, Colour Fund V.” According to a Gulf Times report quoted by IDEX Online, “the asset management group has more than a dozen investors from Qatar, and interest in its fifth fund has 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.”
