MENA Asset Management Survey 2012 - National Bank of Abu Dhabi

Middle East & North Africa
1) DFSA Fund Regulation Highlights
DFSA has 58 bilateral and 3 multilateral Memoranda of Understanding in place
with regulatory authorities and organisations worldwide (recognised by UK’s
FSA, US Federal Reserve & member of IOSCO, IAIS & BOCA)
A dedicated set of laws and rules pertaining directly to both Fund Managers
and Fund Vehicles which include:
o Legal incorporation and segregation requirements in place for both
Fund Managers and Fund Vehicles with a variety of structures
including Company, Partnership & Trust formations
o Domiciliation choice in terms of Fund and Fund Vehicle, namely the
Fund Manager and Fund need not both be domiciled in the DIFC
o A flexible regime allowing for both Public (Retail) and Exempt
(Wholesale/Institutional/High net Worth Professional Clients) Funds,
with varying levels of regulation recognizing investor sophistication
and wealth
o Specialist Fund requirements in place to cater for alternative fund
types and structures. i.e. Hedge, Property, Private Equity, Islamic,
Master/Feeder, Umbrella, Fund of Funds, et cetera
o International auditing and investor reporting standards
o DIFC domiciled Authorised Market Institutions (regulated exchange),
facilitating the listing of Fund Vehicles locally if required
o Other international standard fund related regulatory requirements,
as commonly seen in other internationally recognised jurisdictions
o A competitive fee structure for both Fund Managers and Fund
Vehicles
2) Unique platform for Alternative Investment
Strong cluster of asset management firms present in the financial centre
3) DIFC infrastructure supports
Domiciling, distribution, administration, management, and ancillary services - a
variety of Financial Service firm types in the DIFC which complement each
other e.g. distribution, asset management, administration services, as well as
ancillary service providers i.e. accountancy services/ auditors and lawyers.
Exchange Traded Products, Fund of Funds, Hedge Funds, Private Equity
Funds, Real Estate Funds, Islamic Funds in Open/Closed Structures
NASDAQ Dubai the ideal platform for floatation
Developed infrastructure e.g. centrally accessible location with road and rail
(metro) networks, parking facilities and modern offices with modern
telecommunications / IT infrastructure. Many established and varied retail
outlets e.g. restaurants, coffee shops, pharmacies, print shops, et cetera.
4) DIFC as a platform for Private Banking
‘One stop shop’ to service regional HNWI clients
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