The Dubai International Financial Centre (DIFC) must reduce its fees, allow fund managers to locate their funds outside its jurisdiction and remove excessive regulatory layers in order to attract the funds industry, according to a report from a panel of industry players.
The candid but constructive 10-point report was commissioned by the Dubai International Financial Services Authority (DFSA) to jump-start the DIFC's nascent collective investment funds industry, which hasn't gained traction since it was launched three years ago.
The centre currently boasts nine fund operators, four private funds and one public fund.
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