Thu, Jul 28, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Dubai eyes regulatory reform to attract domiciled funds

Monday, March 17, 2014

Komfie Manalo, Opalesque Asia:

Dubai is planning to relax its regulatory regime to attract more funds, including hedge funds and private equities, to move into the financial center to domicile, various media reported. The move will create a new class of funds in the Dubai International Financial Centre.

According to Emirates247 the DIFC was created as a financial free zone in 2004 and became the top banking hub in the Middle East. However, only nine funds are currently domiciled in the center since the funds regime was established in 2010.

To compete with leading financial centers, DFIC’s regulatory body, the Dubai Financial Services Authority (DFSA), is mulling to introduce less stringent regulations that translates to lower costs on asset managers to narrow the gap with its new fund class.

Chris Harran, a partner at law firm Dechert LLP commented on the move, "You need an option now for a Middle East domicile." He also suggested changes in the incorporation and registration of investment funds to make Dubai more attractive.

Anthony Mallis, chief executive of asset management firm Securities & Investment Co in Bahrain, said Dubai must also target family offices from around the Gulf to succeed in its goal in transforming the DIFC as one of the most important g......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: California-based manager launches long/short equity hedge fund with unique algorithm[more]

    Benedicte Gravrand, Opalesque London for New Managers: SJL Capital LLC, an investment advisory firm based in California, has launched its maiden fund, the SJL MarketDNA Hedge Fund LP. The fund, which began trading

  2. Manny Roman to move from Man to Pimco[more]

    Benedicte Gravrand, Opalesque London: Emmanuel (Manny) Roman, an investment world veteran, has been hired by PIMCO, the large US bond fund house, as chief executive officer. PIMCO's current CEO Douglas Hodge will assume a new role as managing director and senior advisor when Roman joins P

  3. HFR: Hedge funds post strong gains in mid-July as markets recover from Brexit losses[more]

    Komfie Manalo, Opalesque Asia: Hedge funds posted strong gains through mid-July as the equity markets continued the recovery from Brexit losses. The HFRX Market Directional Index gained +2.17% (+4.22% YTD) and the HFRX Global Hedge Fund Index gained +1.03% through mid-month (+0.19%

  4. News Briefs - Carlyle goes on trial for a financial-crisis meltdown, Private equity and venture capital outperformed public markets in 2015, Pippa Middleton gets engaged to hedge fund manager James Matthews[more]

    Carlyle goes on trial for a financial-crisis meltdown Carlyle Group co-founder Bill Conway was in court on this small island last week recounting one of the most bruising episodes in his private-equity firm’s history: the 2008 collapse of mortgage-bond fund Carlyle Capital Corp. Carlyle

  5. …And Finally - Two men fall off cliff playing Pokemon Go[more]

    From BizarreNews.com: Two men who fell from a seaside cliff north of San Diego told authorities they became distracted while playing augmented reality game Pokemon Go. Encinitas fire Battalion Chief Robbie Ford said one of the men fell about 50 feet down the bluff in Encinitas while the other man fe