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West Palm Beach (HedgeCo.net) - Hong Kong-based hedge fund manager PMA has chosen to more than triple the number of users of PerTrac CMS in the company’s Hong Kong, Tokyo, New York, London, and Dubai offices.
PerTrac CMS is an alternative investment workflow management solution used for investor relations, capital raising and investment management workflows.
"PMA’s marketing reach has expanded significantly over the last 12 months and we now has marketing teams based in our Dubai and London offices as well as representations in New York," noted PMA Chief Technology Officer Shane McPherson.
PMA was established in July 2002 to provide investment advisory and investment with assets over $2 billion, PMA currently has over 70 professionals employed in Hong Kong, Sydney, London and Dubai, and became a member of the SPARX group in April 200, the largest publicly listed asset manager in Asia.
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Reuters Dubai - Gas exporter Qatar and Vietnam have set up a $1 billion fund (56 million pounds) to invest in sectors including agriculture, a Qatar-based newspaper reported on Tuesday.
Qatari sovereign wealth fund, the Qatar Investment Authority QIA.L, will provide 90 percent of the fund’s equity, Gulf Times reported, citing Phung The Long, Vietnam’s Ambassador to Doha.
"We have exchange ideas about setting up an animal farm for breeding cattle and lambs," The Long said. "We like to have cooperation in this field. Qatar can provide the finance to grow food grains in our land and these can be exported to Qatar."
Gulf government funds, with windfall income from energy exports, have set up several joint funds, some designed to improve access to food supplies.
The desert states in the world’s top oil-exporting region rely on imports of food — a factor that has stoked inflation to multi-decade highs this year as global commodity prices soared.
Business24-7 - With the UAE stock markets in turmoil it is vital investors re-examine their portfolios.
This week the Abu Dhabi and Dubai stock exchanges suffered their worst trading sessions for almost seven months while Dh65 billion has been wiped off their value in August alone.
Now a number of financial advisors are urging investors to diversify their portfolios more than ever in a bid to ride out these dips rather than face massive losses.
Those in the United States, for instance, who invested all their money in property are now reeling as a result of the credit crunch.
Even hedge funds, which are specifically designed to minimise investor risk, have attracted criticism and piled up some big losses.
Reuters Dubai- Bahrain-based investment bank Investcorp’s INVB.BH profit in the six months to June 30 fell to about a third of the year-ago period as asset-based income dropped on global economic woes.
The company, which generates most of its income from investing Gulf Arab wealth in the West, made $63.3 million in the period, down 71.5 percent from $222.49 million in the year-earlier period.
The Bahrain- and London-listed firm made net income of $151.1 million in the fiscal year to June 30 compared with $302.3 million in the previous fiscal year, it said in a statement on Thursday.