Mirabaud predicts increased foreign investment in Gulf hedge funds

Date: Wednesday, May 14, 2008
Author: Wealth-Bulletin.com

Gilles Rollet, chief executive of Mirabaud in the Middle East, has predicted increased foreign investment being made in regionally based structured products and funds in the near future.

Speaking at this year’s Structured Products Middle East conference in Dubai last week, Rollet said: “Investors from outside the Gulf region are looking for investment vehicles with healthy returns that are based in stable environments. Structured products based in the Gulf, particularly hedge funds, are the perfect example. Bahrain leads the region with 57 funds worth about $2.6bn (€1.7bn), and Dubai is determined to establish a competent global hedge fund centre.”

Rollet went on to describe the regulatory moves cities in the Gulf have made in order to create healthy financial environments suitable to the creation of hedge funds.

Dubai’s creation of its Hedge Fund Code, Bahrain’s introduction of its Collective Investment Scheme Regulations and Qatar’s launch of its Qatar Financial Centre were seen as the most prominent examples.