DFSA proposal will allow Dubai-based investment adviser to manage credit funds domiciled abroad
Washington, D.C. — MFA supported the Dubai Financial Services Authority (DFSA) proposal to allow Dubai-based fund managers to oversee credit funds domiciled abroad in a comment letter submitted today. The comment letter is in response to a Consultation Paper and is related to the Credit Funds Call for Evidence MFA responded to earlier this month.
“Expanding the types of funds a Dubai-based investment adviser can manage will enhance the region’s attractiveness as a global financial centre,” said Bryan Corbett, MFA President and CEO. “The DFSA proposal is an important step in harmonising its private credit regulation with other jurisdictions.”
In the letter, MFA emphasises that allowing Dubai-based managers to oversee funds domiciled abroad will increase efficiencies and enhance Dubai’s position as a global financial centre. Many private credit funds operate globally and will only have managers working in Dubai if they are able to manage funds in jurisdictions around the world.
Read the full comment letter here.
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About the global alternative asset management industry
The global alternative asset management industry, including hedge funds, credit funds, and crossover funds, has assets under management of $5.5 trillion (Q3 2023). The industry serves thousands of public and private pension funds, charitable endowments, foundations, sovereign governments, and other global institutional investors by providing portfolio diversification and risk-adjusted returns to help meet their funding obligations and return targets.
About MFA
Managed Funds Association (MFA), based in Washington, DC, New York, Brussels, and London, represents the global alternative asset management industry. MFA’s mission is to advance the ability of alternative asset managers to raise capital, invest, and generate returns for their beneficiaries. MFA advocates on behalf of its membership and convenes stakeholders to address global regulatory, operational, and business issues. MFA has more than 180 member fund managers, including traditional hedge funds, credit funds, and crossover funds, that collectively manage over $3.2 trillion across a diverse group of investment strategies. Member firms help pension plans, university endowments, charitable foundations, and other institutional investors to diversify their investments, manage risk, and generate attractive returns over time.
