bulletEDITOR'S PICKS

 

Serious Fraud Office to investigate Timothy Schools and Axiom

From Products Aug 29 2014 @ 17:16

Timothy Schools, the former manager of the failed legal financing fund Axiom, is being...
view article

FCA fines and bans broker over 'dishonest' UCIS sales

From United Kingdom Aug 29 2014 @ 11:18

The Financial Conduct Authority has fined and banned an IFA for life after he was found to have...
view article


bulletRELATED ARTICLES

 

bulletNEWS

 

LATEST NEWS

Former BNP Paribas wealth head switches to Coutts

Former BNP Paribas wealth head switches to CouttsMiles Le Cornu is to join Coutts on 8 September as head of private client trust...
view article

Overseas Trust & Pension launches QROPS...

From Products Sep 1 2014 @ 17:13

‘Europe is structured corruption’ – Former...

From Analysis Sep 1 2014 @ 16:44

MORE FROM People

LATEST NEWS

RL360° combines life cover with trusts for IHT product

RL360° combines life cover with trusts for IHT productInternational life company RL360° has launched the Asset Protection Plan,...
view article

Matthews Asia launches new Strategic Income...

From Products Sep 1 2014 @ 12:45

Barclays to sell Spanish wealth arm, completes...

From Europe Sep 1 2014 @ 11:30

MORE FROM Life

LATEST NEWS

VAM launches frontier equities strategy

VAM launches frontier equities strategyVAM has launched a Luxembourg-domiciled UCITS IV fund targeting the “high growth...
view article

Worried about fine inflation, Woodford sells...

From Products Sep 1 2014 @ 10:08

Serious Fraud Office to investigate Timothy...

From Products Aug 29 2014 @ 17:16

MORE FROM Products



Simon Danaher

Qatar plans to buy hedge fund managers as part of expansion strategy

From Middle East Apr 17 2013 BY: Simon Danaher , Online Editor , International Adviser

Add to My News Comments (0)

Add to My News Print

Add to My News

add to twitter

add to linkedin


The Qatar Financial Centre has plans in place to buy hedge funds as part of a strategy to bolster the asset management industry based in the country.

In an interview given to a local media outlet, Yousuf Al-Jaida, chief strategic development officer said the QFC is currently implementing a four-stage process to build the local asset management presence in Doha and that the strategy of buying hedge funds is part of “Wave 2”.

Al-Jaida told MENA Fund Manager that the QFC is currently implementing “Wave 1” of its strategy which centres on incentivising global asset managers to set up shop in Qatar by offering to seed new funds, with capital supplied by Qatar’s Sovereign Wealth Fund.

However, he said the QFC will be moving on to Wave 2 which largely involves setting up back and middle office support services but will also involve “buying hedge funds”.

Al-Jaida told Mena FM the QFC is planning to establish a hedge fund platform.

He said: “We’re setting up the infrastructure here, the middle office and back office, and then going out and buying hedge funds and relocating them to Qatar.

“That’s a unique project within the overall strategy. Not only are you moving managers, but you are also managing the managers, so you need a pool of analysts on the ground, an entire middle office and back office to do all of the due diligence for these managers who qualify to become part of the platform. We hope to end up with a platform of maybe 10-15 managers, with a billion or a billion and a half under management.”

Add to My News Comments (0)

Add to My News Print

Add to My News

add to twitter

add to linkedin


COMMENTS


Have your say

(Be the first to) Have your say!

Please sign in or register here to leave a comment. Registration is free and only takes a few moments.






Share us on Twitter

SHARE US ON TWITTER
Join the community

Join us on Linked In

SHARE ON LINKED IN
Inform your colleagues

Switch to our mobile site

SWITCH TO MOBILE SITE
News on the go

Back tot he top of the page

BACK TO TOP OF PAGE
Just click here...