{"id":6334,"date":"2007-07-19T00:00:00","date_gmt":"2007-07-19T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"dubai-leads-gulf-with-draft-hedge-funds-code","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/07\/2007\/dubai-leads-gulf-with-draft-hedge-funds-code.html","title":{"rendered":"Dubai leads Gulf with draft hedge funds code"},"content":{"rendered":"<p>  Financial News Online US- Dubai is bucking the trend around the world by drafting a code of conduct for hedge funds. Several jurisdictions have decided this could be seen as over-regulation.<\/p>\n<p>  Hedge fund assets in the Gulf states are small, but are expected to grow as managers in Europe and the US set their sights on wealthy individuals and large state-run investment funds in the region.<\/p>\n<p>  Dubai investment company Istithmar last month bought a 3% stake in hedge fund GLG and funds, including Man Group, have moved into the Dubai International Financial Centre.<\/p>\n<p>  <a class=\"keywordsearch\" href=\"?page=ushome&amp;keywordsearch=Ian+Johnston\">Ian Johnston<\/a>, managing director in policy and legal services at the <a class=\"keywordsearch\" href=  \"?page=ushome&amp;keywordsearch=Dubai+Financial+Services+Authority\">Dubai Financial Services Authority<\/a>, which has prepared the draft hedge fund code for consultation, said: \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cThis is a code  funds can implement in the way they see fit, rather than being prescriptive and rather than putting tougher legal requirements on them.\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d<\/p>\n<p>  The draft code, which does not have the force of law, outlines best practice covering valuation, risk management and conflicts of interest.<\/p>\n<p>  The London-based <a class=\"keywordsearch\" href=\"?page=ushome&amp;keywordsearch=Alternative+Investment+Management+Association\">Alternative Investment Management Association<\/a> has in the past  expressed caution regarding a broad international code of conduct.<\/p>\n<p><a href=\"http:\/\/news.google.com\/news\/url?sa=T&amp;ct=us\/3-0&amp;fd=R&amp;url=http:\/\/www.financialnews-us.com\/%3Fpage%3Dushome%26contentid%3D2448324732&amp;cid=1118306993&amp;ei=rhmfRtK5L4O00QGXwPSHAQ\"><strong>ReadComplete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Financial News Online US- Dubai is bucking the trend around the world by drafting a code of conduct for hedge funds. Several jurisdictions have decided this could be seen as over-regulation. Hedge fund assets in the Gulf states are small, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6334","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/6334","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=6334"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/6334\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=6334"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=6334"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=6334"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}