QFCRA mulls updates to its professional investor fund regime
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QFCRA mulls updates to its professional investor fund regime 05 July 2021Qatar Reporter: Maddie Saghir
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The Qatar Financial Centre Regulatory Authority (QFCRA) has proposed to update and broaden the regulatory framework for professional investor funds in the Qatar Financial Centre (QFC).
In its new consultation paper, the authority explains that the rules will create a new type of fund structure, the Certified Professional Investor Fund, which will focus on high-net-worth investors.
According to the authority, this new fund structure will complement the broad array of private and public fund structures already in place at the QFC.
This new rulemaking is in response to the continuing growth in the investment management sector in Qatar, and the growing interest among investors and investment managers for more innovative and flexible fund structures, the authority explains.
The proposed new rules have been released for public consultation until 30 September to obtain feedback from investors and investment managers on the proposals.
The public consultation marks an important element in ensuring that the rules deliver added value and opportunity for the industry and investor.
Assets under management in the QFC have continued to grow year-on-year and the opportunities for future growth have been enhanced by the recognition of the QFC platform by the European Securities and Markets Authority in January 2018.
That recognition provides QFC-based investment managers with the opportunity to manage and market investment funds directly to professional investors in the EU, the authority notes.
Michael Ryan, chief executive of the QFCRA, comments: “Qatar is becoming an important location for asset management. The proposed update to our fund framework will put the QFC in an even stronger position to attract fund managers and professional investors.”
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