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Gulf Arab Hedge Fund Allocation

Gulf Arab Hedge Fund Allocation

Gulf Arab Region to Boost Hedge Fund Allocations

Persian Gulf Arab investment institutions are expected to up allocations to hedge funds over the next eleven months.  InvestCorp Bank BSC of Bahrain, which manages $12 billion, has signaled its intent to increase hedge fund investments in order to diversify its assets.
The Gulf usually follow trends in the U.S., where investors helped push global hedge fund assets to $1.6 trillion last year from $1.3 trillion in 2008, Khalid al-Rumaihi, Investcorp’s managing director for placement, said at a conference today in Dubai. Investcorp manages $4.5 billion in funds of hedge funds after adding $1.3 billion of assets last year, all from U.S. financial firms, he said.
“You will have more investments from the Gulf this year,” al-Rumaihi said. “We would expect a very good year” as global markets are likely to remain volatile, he said.
The Gulf Arab region pumps more than 20 percent of the world’s crude oil and is home to some of the world’s biggest sovereign wealth funds. The Abu Dhabi Investment Authority managed $328 billion at the end of 2008, the Kuwait Investment Authority had $228 billion of assets and the Qatar Investment Authority $58 billion, according to estimates by economists at the New York-based Council on Foreign Relations.  Source


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