First Gulf Bank offers long-term hedge

Abu Dhabi taps its own funds

Abu Dhabi taps its own funds

By Mark Ford

Stock markets in the United Arab Emirates have suffered dramatic falls over recent weeks after a sustained period of sharp gains. This provides an appropriate background for the launch by an Abu Dhabi-based bank of a locally focused hedge fund whose objective is even, long-term returns and a hedge against market volatility.

First Gulf Bank claims it now has the first open-ended, macro-strategy hedge fund managed by a UAE-headquartered bank.

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