The first hedge fund to be domiciled in the Dubai International Financial Centre (DIFC) was launched yesterday by Argent Financial Group LLP, an independent investment management company with operations in the US and Bermuda.
The Constans Crescent Investment Fund is one of the first hedge funds focused on investment opportunities in the “Crescent Belt” of Islamic countries stretching between Morocco and Pakistan, including the GCC and North Africa, and the fund will primarily invest in local public equities across these markets.
The fund uses a fundamentals-driven multi-directional strategy in an attempt to capture returns regardless of market direction. Currently, most regional funds are long only, leaving investors vulnerable to downward market corrections.
“The Constans Crescent Investment Fund is the first fund in the region to employ a multi-directional strategy focused on the region," commented Howard Leedham MBE, Senior Managing Director of Argent Financial Group International LLP.
He added that the launch "is the result of 12 months work done in close consultation with the DIFC".
Sandy Shipton, Head of Asset Management at the DIFC noted that: “Argent’s global expertise in the alternative investment market is a welcome addition to the DIFC fund community."
"We look forward to continued innovation from funds at the DIFC, which will provide wholesale investors in the region with greater choice," he added.
A comprehensive report in our Intelligence Report series examining offshore investment, offshore stock exchanges, and hedge funds is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report9.asp
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