Gulfmena Alternative Investments, a Middle East North Africa (Mena) region absolute return fund house, has received an asset management licence from the Dubai International Financial Centre (DIFC).
It will be targeting high net worth and institutional investors with “enhanced alpha” and absolute return strategies and also offers bespoke and Shariah compliant investments.
The fund manager will launch the Gulfmena Arab Opportunities Fund, a macro-directional absolute return equities fund later in the year. The Cayman-domiciled and regulated product is the first Mena hedge fund of its kind, according to the firm.
Haissam Arabi, Gulfmena’s founding chief executive and fund manager, said risk management as well as liquidity and capacity controls were paramount in its strategies, while portfolio reporting was “state-of- the-art”.
He added the DIFC was an ideal place to do business because of its high regulatory standards.
“The changing landscape within the asset management industry and rapidly growing investor sophistication, especially following the credit crunch, places regulation and compliance at the heart of any successful investment strategy,” said Arabi.
Arabi was formerly managing director of Dubai investment bank SHUAA Capital’s asset management division, where he managed a number of funds and investment strategies. He is also a member of the DIFC Authority’s Wealth Management Advisory Council.
Marc Hambach, Gulfmena’s chief operating officer, said: “We believe we have a proposition for a unique non-traditional investment strategy and an unparalleled risk management platform that better meets the challenges and opportunities of today’s MENA markets.”
