Diverse Perspectives

Depending on who you speak to, Dubai is either fertile ground for hedge funds or a barren wilderness. At the Dubai International Finance Centre (DIFC), executive director of Wealth Management, Sandy Shipton, believes the new Collective Investment Law will help to put the Middle East firmly on the fund industry map.

Ian Hamilton, of IDS International, is less sanguine about Dubai’s funds industry. He thinks the rate of expansion in Dubai is slow and that the service infrastructure needs a boost to speed up growth.

Independent administrator Apex Fund Services are confident that their international experience will boost investor confidence, however. Craig Roberts of Apex maintains that independence is crucial to maintaining best practice in Dubai.

As manager of Dubai’s first (and only) hedge fund to date, Rasmala Investments have the drop on the competition. Rasmala’s head of Asset Management, Eric Swats, says the region is going to flourish and Rasmala will be at the forefront of that growth.

Ralph Lindeyer of CCL Limited is concerned that Dubai’s vision for hedge funds remains… simply that. Compliance specialists CCL take the view that for the jurisdiction to thrive in the hedge fund space it must work hard at creating a good regulatory culture first.

The final word comes from Andrew Henderson at Clifford Chance. He argues that the consultation phase of the hedge fund code of practice is a big step toward this regulatory goal. However, is there a crisis of confidence in terms of attracting funds to domicile in the region, given the lack of existing funds?

Decide for yourself with this, HFM Week’s first Dubai domicile report.

Gavin Bradshaw
Report Editor

IN THIS ISSUE …

04 Gateway to success
Sandy Shipton of DIFC talks about the future of Dubai's hedge funds

06 Building your house on sand
Ian Hamilton of IDS International explains the need for changes to ensure the safety of the hedge fund industry in Dubai

08 Adding value
Craig Roberts of Apex talks about the benefits of independent administration

10 Pioneering Dubai
Eric Swats of Rasmala Investments outlines the use of their fund of funds model in the region

13 To the DFSA and beyond
Ralph Lindeyer of CCL Limited on how cultivating a culture of compliance will make Dubai attractive to hedge funds

17 Growing fund potential
Andrew Henderson of Clifford Chance on the future of regulation in Dubai

Download Dubai Special Report 2007/2008, Hedge Fund Manager

PDF format, 5.1MB, 20Pages.

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