Global investors Looking at Middle East capital markets

Wednesday, 26 November 2008, 08:00 Hrs
Printer Print Email Email
Dubai: The Hedge Funds industry, reeling under the weight of the global financial turmoil, is looking eastwards both for investing and for getting allocations, WAM reported Wednesday quoting a recent survey.

According to the survey conducted by Terrapinn, organiser of Hedge Funds World Middle East Conference, more than half of the international investors are looking to the Middle East based hedge funds for possible investment.

Even with the oil price well below previous peaks, the global transfer of wealth from western countries to the East continues to have a significant impact on the funds controlled by Middle East investors, the survey says.

Local investors already hold well over $1 trillion in overseas assets, and many are now actively diversifying into alternative investments.

"The Gulf Cooperation Council equity markets now appear on the radar screen of every large global investor, and many of the international investors flocking to Dubai for Hedge Funds World Middle East are also looking at local fund managers to help them take advantage of lower prices and build up their fledgling Middle East exposure," Terrapinn chief Symon Rubens said.

"We have seen global hedge fund managers starting to flock to the region. Recently two major players listed on Dubai International Financial Exchange (DIFX,)" said Rubens, adding that an overwhelming majority of the respondents believed Dubai to be the hub of the Middle East hedge fund industry.

The survey was conducted among 820 institutional investors and fund managers from around the world and the Middle East.

The Conference, which is celebrating its 10th anniversary in the Arab region next year, is the largest investment conglomerate in the Middle East.
Source: IANS
SPOTLIGHT
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..