The Qatar Financial Centre Regulatory Authority (QFCRA) is seeking to put in place a framework for helping the registered firms incorporate new type of fund structure that focuses on high-net-worth investors.
In this regard, the QFCRA is proposing a comprehensive updating and broadening of the regulatory framework for professional investor funds in the QFC, which is aiming to be the epicentre of the asset management industry.
The rules will create a new type of fund structure – the certified professional investor fund – focusing on high-net-worth investors. This new fund structure will complement the broad array of private and public fund structures already in place at the QFC.
“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,” said Michael Ryan, chief executive of the QFCRA.
The new rulemaking by the QFCRA 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 proposed new rules have been released for public consultation until September 30 to obtain feedback from investors and investment managers on the proposals.
The QFCRA noted that the public consultation is 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 has been significantly enhanced by the recognition of the QFC platform by the European Securities and Markets Authority in January 2018.
The recognition provides QFC-based investment managers with the opportunity to manage and market investment funds directly to professional investors in the EU.
The QFC-based investment managers dominate Qatar’s fund market handling over half the market’s assets under management, according to Qatar Capital Market 2020 report.
Highlighting that Qatar has a growing asset management sector; the report had said opportunities are aplenty in introducing new, and potentially more lucrative, investment products.
The rules will create a new type of fund structure – the certified professional investor fund – focusing on high-net-worth investors. This new fund structure will complement the broad array of private and public fund structures already in place at the QFC.
“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,” said Michael Ryan, chief executive of the QFCRA.
The new rulemaking by the QFCRA 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 proposed new rules have been released for public consultation until September 30 to obtain feedback from investors and investment managers on the proposals.
The QFCRA noted that the public consultation is 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 has been significantly enhanced by the recognition of the QFC platform by the European Securities and Markets Authority in January 2018.
The recognition provides QFC-based investment managers with the opportunity to manage and market investment funds directly to professional investors in the EU.
The QFC-based investment managers dominate Qatar’s fund market handling over half the market’s assets under management, according to Qatar Capital Market 2020 report.
Highlighting that Qatar has a growing asset management sector; the report had said opportunities are aplenty in introducing new, and potentially more lucrative, investment products.