Tue, Apr 28, 2015
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. U.S. does not want hedge funds to invest in offshore re-insurers for tax purposes[more]

    Komfie Manalo, Opalesque Asia: The U.S. Treasury Department on Thursday introduced a new rule aimed at limiting hedge funds’ ability to reduce their tax bills by investing in insurance companies in offshore tax havens. As a general rule, the U.S. tax laws does not allow hedge funds to use off

  2. Ruling: Hedge funds suing Argentina can have access to bond offering details[more]

    Komfie Manalo, Opalesque Asia: U.S. District Judge Thomas Griesa in Manhattan ruled yesterday that hedge funds are entitled to details of a recent bond offering by Buenos Aires, reports

  3. Fund managers express concern of overvaluation in both equity and bond markets[more]

    Komfie Manalo, Opalesque Asia: According to the BofA Merrill Lynch Fund Manager Survey, investors see growing overvaluations in both

  4. Update: Wall Street has strong feelings about Jon Corzine trying to make a comeback[more]

    From Businessinsider.com.au: Former New Jersey Governor Jon Corzine is thinking about starting his own hedge fund, according to the Wall Street Journal, and because of the way his last firm imploded, Wall Street has strong feelings about that. “Truth is the larger seeders would never give him money

  5. Opalesque Exclusive: Cybersecurity and hedge funds - A manager’s experience, Part Four[more]

    Benedicte Gravrand, Opalesque Geneva: Ruane, Cunniff and Goldfarb, Inc. used to have their own IT infrastructure. Todd Ruoff, Executive Vice President in charge of trading, operations and technology, was responsible for its maintenance. Then he started looking at outsourced providers a couple of

 

banner