Dubai International Financial Centre issues hedge fund code

12 December 2007
The Dubai International Financial Centre (DIFC) regulator, the Dubai Financial Services Authority (DFSA) has issued a code of practice for hedge funds.

The code, which will be affective from 20 January, is intended to address fears that hedge funds are high-risk investments.

The code’s nine principles require hedge funds to develop sufficient expertise to pursue complex investment strategies.

The DIFC is hoping hedge funds will base themselves in the centre.

DFSA has proposed changes to its collective investment rules that would remove the requirement for funds domiciled in the DIFC to be administered in the centre.

The change would make it easier for funds to move into the DIFC.

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