Only a small minority of investors in the United Arab Emirates and Hong Kong will seek financial advice this year, despite the risk of missing out on large returns, this year’s Schroders Global Investment Trends Survey has revealed.
A financial adviser currently employed by Holborn Assets in the UAE has been fined and banned in the UK after the Financial Conduct Authority found him guilty of knowingly recommending inappropriate, high risk products to retail clients.
Infini Asset Management has opened its flagship product up to all major currencies as it looks to target holders of Qualifying Recognised Overseas Pension Schemes (QROPS).
Isle of Man-based Qatar Investment Fund, which invests largely in Qatari-listed stocks, has come up with what it claims is a unique offer to shareholders to ensure success at a discontinuation vote due to be held later this year.
South Africa’s stock market is being bolstered by an ongoing diversification away from mining into the retail, tourism and hospitality sectors, says a leading figure in the country’s investment management sector.
A sea change in regulation within the UAE is paving the way to growth for financial services businesses operating in the region, as both advisers and clients become more aware of the opportunities available.
Dubai International Financial Centre Investments (DIFCI), the company behind the independent financial hub in United Arab Emirates reported gross profits rose to $181m in 2014 an increase of 23% over the $147m posted in 2013.
The DIFC branch of Deutsche Bank (DBDIFC) has been fined $8.4m by the Dubai Financial Services Authority (DFSA) for “serious contraventions” in its private wealth management procedures.
FACT Middle East, a specialist family office business, has been granted a licence by the Qatar Financial Centre Authority (QFCA) and is now fully operational in the Persian Gulf state.
Dubai-based Infini Asset Management has lowered the minimum investment into its flagship product to $10,000, as it looks to “better engage the retail sector”.
Luxembourg-domiciled fund manager VAM Funds has entered the South African market, launching 11 funds in the region.
Advisers in the UAE that are licensed by the Securities and Commodities Authority (SCA) may be given an extension to enable them to offer clients fully holistic financial planning.
