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Dubai Making Inroads Into $1 Trillion Hedge Fund Market

by Lorys Charalambous, Tax-News.com, Cyprus

02 November 2005


Asset management and hedge fund registration are becoming a key part of the activities of the Dubai International Financial Centre, which is attempting to attract a larger slice of the $1 trillion global hedge fund industry, an international hedge fund conference has heard.

“Asset Management and Fund Registration is one of the six key sectors of activity at the Dubai International Financial Centre," observed Dr Omar Bin Sulaiman, director general of the DIFC Authority, against the backdrop of the 8th annual Hedge Funds World, Asia 2005, conference in Hong Kong.

"Many regional companies and financial institutions outsource the management and administration of these funds to specialist providers outside the region. The DIFC offers a highly attractive opportunity for asset management firms and private banks to gather and manage this growing pool of assets closer to their client base," Dr Bin Sulaiman added, according to the GoWealthy news service.

Meanwhile, Sandy Shipton, head of asset management and fund registration at the DIFC Authority added that hedge funds are an ideal vehicle for both pension funds and long term investors who are in the business of managing risk.

"This is where the hedge fund industry has been able to find its niche in the late 20th and early 21st centuries," observed Mr Shipton.

"The estimated $1 trillion entrusted to our industry is testament to the central place we occupy in the investment landscape," 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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