Gulfmena Granted License To Operate From The DIFC

by Lorys Charalambous, Tax-News.com, Cyprus

03 September 2009

Gulfmena Alternative Investments Ltd has been granted a licence by the Dubai Financial Services Authority (DFSA) to operate as an asset management company from the Dubai International Financial Centre (DIFC).

Gulfmena is a fund and asset manager specialising in the Middle East and North Africa (MENA) markets. Its primary fund management activity focuses on introducing absolute return strategies and enhanced alpha solutions for institutional clients and qualified high net worth investors seeking exposure to MENA markets.

The company also offers international and regional clients customised strategies and investment management services catering to both conventional and Shariah-compliant investors.

Omar Bin Sulaiman, Governor of the DIFC explained that:

“The MENA region has long been a part of the emerging markets portfolio of major global funds, and, over the years, it has provided significant returns as the region’s economies revitalised themselves and grew rapidly.”

“Now with the shift in the world’s economic centre of gravity to the East, speeded up by the financial crisis in the West, the MENA region offers even greater potential for economic growth and wealth creation.”

Gulfmena will introduce its flagship investment strategy through ‘Gulfmena Arab Opportunities Fund’ a macro-directional (market-directional) absolute return public equities fund that will be launched in the last quarter of 2009.

The first MENA hedge fund of its kind, the Fund seeks to adopt Global Investment Performance Standards (GIPS) from the start.

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