Dubai creates new fund class to lure asset managers

Reuters – Dubai is changing its financial rules in an effort to attract more asset managers – particularly those serving the richest and most risk-tolerant investors, such as hedge funds and private equity funds – to base themselves in the emirate.

The rules create a new class of funds that can be domiciled in the Dubai International Financial Centre (DIFC), facing less stringent regulation and thus lower costs than existing funds.

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