The rules create a new class of funds that can be domiciled in the
Authorities hope this will boost the DIFC's growth as a domicile for funds, which has lagged other areas of the emirate's rapid financial development over the past decade.
The DIFC has boomed since it was set up as a financial free zone in 2004, becoming the
But the DIFC has not come close to competing with the likes of Luxembourg,
That is partly because
The new rules from the
The qualified investor funds (QIFs) can be offered only through private placements, rather than public offers, and can have no more than 50 investors, the DFSA said.
Minimum subscriptions to QIFs must be
The advantages of QIFs include not having to file interim reports on their operations, only annual reports; flexibility in appointing custodians; and exemption from some investment restrictions.
For example, a QIF can invest in a fund of funds, while funds of other types may be prohibited from doing so.
While it is likely to take years for
Hispanic #1 Breaking News for Entrepreneurs, Professionals and Small Business Owners - HispanicBusiness.com
OCTOBER 30, 2014
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